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interbiznet presents The Bugler
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July 19, 2007
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Special Edition: Online Recruitment Activity Dipped
Monster Local Employment Index Reports Online Recruitment Activity Dipped in 18 of 28 Top U.S. Metro Markets in June
June 2007 Monster Local Employment Index Highlights:
Orlando, Los Angeles and Philadelphia register sharpest declines in online recruitment activity during June
Worker demand eases in other major California cities, as Sacramento, San Diego and San Francisco also show fewer online job opportunities
Minneapolis registers largest monthly increase, continuing five-month growth trend fueled by strong demand for healthcare and construction occupations
Pittsburgh sees further growth amid increased online job availability in food services, construction and manufacturing
Demand for business and financial occupations decline in most markets, possibly indicating more cautious hiring plans in the financial sector following sub-prime mortgage fallout
Online job availability declined in 18 of the top 28 U.S. metro markets in June, reflecting a mild seasonal summer slowdown in online recruitment and job posting activity across all major markets, according to the latest findings of the Monster Local Employment Index. The Index is based on a real-time review of millions of employer job opportunities culled from more than 1,500 different Web sites, including Monster(R).
"The decline in online job availability in a majority of major U.S. metro areas reflect the typical summer seasonal slowdown in recruitment," said Steve Pogorzelski, Executive Vice President, Global Sales and Customer Development at Monster Worldwide. "While most markets continue to demonstrate healthy underlying growth, the downturn in business/financial operations opportunities may point to challenges in the financial sector, including the recent declines in the sub-prime mortgage industry."
Among the 28 cities monitored by the Index, Orlando, Los Angeles and Philadelphia registered the sharpest declines in online recruitment activity during June, offsetting the strong gains that they recorded in recent previous months. Orlando, which plunged five points, or five percent, recorded the largest drop, followed closely by Los Angeles, which fell four points, or four percent, and Philadelphia, which also shed four points, or three percent.
The decline in Orlando last month suggests moderating local demand for workers following a particularly strong surge in May when the Index for Orlando jumped five points. In Los Angeles, the decline in recruitment activity was most pronounced in the white-collar segment, with reduced opportunities in occupations such as legal and management. Meanwhile, the Index for Philadelphia showed lower online job availability across the majority of occupational categories tracked, with business/financial operations and legal among the categories that dipped during the month of June.
Minneapolis, which added two points, or two percent, saw the greatest monthly increase in online recruitment activity in June, fueled by strong seasonal demand for healthcare workers and increased opportunities in construction. Healthcare practitioners and technical occupations registered the largest jump of all categories in the Twin Cities of Minneapolis-St. Paul last month, mirroring a similar spike seen in June of last year, and also suggesting a recurring seasonal hiring pattern. Opportunities for Twin Cities healthcare support positions also widened. In a sign of new activity in the region's blue-collar segment, online job offerings for both construction and extraction; and installation, maintenance, and repair occupations edged higher on both a monthly and annual basis.
The Index for Pittsburgh edged up one point last month, continuing a five-month growth trend as demand for workers in food services, construction and manufacturing rose further. The Index for Pittsburgh is now up 15 percent year-over-year, suggesting a tightening of the local labor market and an improving local economy. Despite a mild decline in June, the food preparation and serving category is up 50 percent compared to a year ago, and remains the Index for Pittsburgh's top growth category. Signs of renewed strength were also seen in the blue-collar industries with installation, maintenance, and repair registering the highest rate of increase in online opportunities in June.
Meanwhile, the Index for Denver also climbed one point, or one percent, on greater demand for workers in a number of categories, including protective service; community and social services; and legal. Online opportunities for computer and mathematical (IT) occupations rose, both on the month and on a year-over-year basis. Other categories in Denver showing sizable gains compared to last year include sales and related; office and administrative support; and construction and extraction.
Despite a slight decline in June, Dallas remains the Monster Local Employment Index's second-fastest growth market on a year-over year basis, reflecting continued strength in the broader Texas economy. The Index for Dallas dipped three points, or two percent, in June, causing its annual growth pace to slide from 17 percent to 15 percent. The decline in Dallas reflects fewer online job opportunities in office and administrative support; and food services related occupations, however, both categories remain sharply above year-ago levels.
Online job availability in Houston remained flat last month. Nevertheless, the market continues to hold the Index's top rank in terms of annual growth, and all occupational categories tracked in the Houston area continue to show double-digit growth year-over-year, indicating broad based expansion across all industry sectors. Both Dallas and Houston saw solid demand for sales and related occupations which is reflective of the growing population base and sustained consumer spending in both regions.
In California, all four monitored markets registered moderate declines in online job availability in June, indicating that the state's labor market may be loosening. Los Angeles dipped four points, or four percent, largely driven by a sharp, 29-point decline in online opportunities for legal occupations. Sacramento declined two points, or two percent, amid fewer opportunities in both blue- and white- collar opportunities, however, much of the decline may be seasonal as the Index for Sacramento showed a similar decline a year ago. San Diego and San Francisco both shed three points last month, with San Diego reporting fewer white-collar opportunities in management and legal occupations, while San Francisco showed sharply reduced offerings for computer and mathematical (IT) and transportation and material moving occupations.
A majority of the 28 markets tracked registered lower online demand for workers in business and financial operations during June, suggesting that business conditions including the erosion of the sub-prime mortgage sector may be impacting hiring in the financial sector. The category declined in 23 of the top 28 markets on the month compared to only one market a year ago - a strong indication that the drop may not have been seasonal in nature. The fact that all 28 markets are now showing lower annual growth rates for the category provides further evidence of softening recruitment in this sector.
Overall results for the top 28 U.S. metro for June 2007 and June 2006 are as follows:
JUN JUN
07 06
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118 106 Atlanta
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104 103 Baltimore
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108 104 Boston
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112 105 Chicago
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107 105 Cincinnati
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115 106 Cleveland
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123 107 Dallas
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119 106 Denver
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107 104 Detroit
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132 111 Houston
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110 105 Indianapolis
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119 107 Kansas City
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113 102 Los Angeles
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111 105 Miami
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119 109 Minneapolis
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110 104 New York City
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108 101 Orlando
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108 101 Philadelphia
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114 111 Phoenix
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117 102 Pittsburgh
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119 108 Portland
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111 103 Sacramento
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106 106 San Diego
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112 105 San Francisco
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115 109 Seattle
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123 108 St. Louis
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104 104 Tampa
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106 100 Washington, D.C.
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The July results of the Monster Local Employment Index will be released on August 16, 2007.
About the Monster Local Employment Index
Providing a broad, comprehensive monthly analysis of online job demand in the top 28 U.S. metro markets, the Monster Local Employment Index is an extension of the national Monster Employment Index, which is compiled each month by researchers at Monster Worldwide, Inc. (NASDAQ: MNST), parent company of the leading global online career and recruitment resource, Monster(R). Based on a real-time review of millions of employer job opportunities culled from more than 1,500 Web sites, including Monster(R), the Monster Local Employment Index presents a snapshot of employer online recruitment activity in the top 28 U.S. markets with the largest working populations.
The Index counts job postings as an indicator of employer demand for employees or, in other words, job availability. Job postings are online advertisements placed by an employer looking to fill one or more vacant, or recently created, job positions. All of the data and findings have been validated for accuracy through independent, monthly third party auditing conducted by ARC Research of Cranford, New Jersey. Individual Index reports containing data for each of the 28 metro markets, as well as additional information on occupational demand in each area, are now available at http://LocaleIndex.monsterworldwide.com.
About Monster Worldwide
Monster Worldwide, Inc. (NASDAQ: MNST), parent company of Monster(R), the premier global online employment solution for more than a decade, strives to bring people together to advance their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 Index and the NASDAQ 100. To learn more about Monster's industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at www.monsterworldwide.com.
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