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March Monster Employment Index Reflects Continued Optimism In Job Market
(April 1, 2010)
March 2010 Index Highlights:
The Monster Employment Index reports annual rise of six percent in March
New growth in real estate, rental and leasing; and construction industries; public administration and information decline Continued gains in healthcare practitioner occupations, while community and social service; protective service and business edge down
Online job demand rises in all of the 28 major metro markets, with Orlando showing strongest monthly gain
The Monster Employment Index (MEI) had a monthly rise of one point in March, as employers continued to expand hiring efforts at the end of the first quarter. The annual growth rate in the MEI accelerated in March, with the current online demand level six percent above where it was a year ago.
"We're encouraged by the positive uptick in the Index in the past two months"
The Monster Employment Index is a monthly gauge of U.S. online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of corporate career Web sites and job boards, including Monster.com®.
During March, online job availability rose in 12 of the Index's 20 industry sectors and in 13 of the 23 occupational categories monitored. Index results for the past 13 months are as follows:
"We're encouraged by the positive uptick in the Index in the past two months," said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. "The Index results may be a signal that companies intend to start hiring again. While the labor market continues to be challenging for those looking for work, we are encouraged to see early signs of what may be a return to consistent job growth."
Real Estate, Rental and Leasing; Construction Register Large Monthly Gains in Online Job Demand in March; Public Administration and Information Edge Down
Online recruitment activity rose in 12 of the 20 NAICS industries. Construction led all industries on a month-over-month basis with an 11-point gain in March. Transportation and warehousing rose for the second consecutive month. This rise in online job demand coincides with an increase in most shipping/transportation metrics in recent months, including those for port activity, trucking, and rail freight. Meanwhile, online job opportunities in retail trade registered an eight-point increase in March with employers stepping up hiring after a seasonal lull at the beginning of the first quarter. This rise demonstrates a steady recovery in hiring activity in this sector, also reflected by a rise in retail sales figures issued by the Department of Commerce. Manufacturing also continued to rise in the Index and is up by two percent annually, coinciding with a rise in durable goods orders, again reported by the Department of Commerce.
Public administration; information; and professional, scientific, and technical services saw a decline in online job demand in March, in contrast with the usual initiation of recruitment cycles that have historically been seen in early springtime.
On an annual basis, mining; as well as real estate and rental and leasing led all industries, with online demand in real estate edging to its highest level in more than one year. While existing home sales volumes have seen a downward trend in the past three months, there is evidence that non-real estate rental and leasing activity is on a potential upswing. Still, online job availability continues to indicate a weak labor market for the sector relative to the 2007 and 2008 periods.
Thirteen Occupational Categories See Increases in Online Job Availability in March; Four Remain Flat; Community and Social Service; and Protective Service Decline
In March, online hiring demand rose in construction; and transportation occupations as reflected by growth in their industries as a whole. Health care and social assistance also registered a gain in March to reach its highest level in five months in the Index with the healthcare practitioners group exhibiting the most notable expansion in opportunities. Meanwhile, occupations in the sales and related sector held steady in March, suggesting that the gains in the broader retail trade industry were not only limited to sales positions, but also managerial and technical occupations.
In contrast, online demand for occupations related to community and social service; protective service; and business edged down in March.
Transportation and warehousing led all occupational categories in terms of year-over-year growth with a 19 percent annual rise in opportunities closely followed by sales and related which continued to remain above year-earlier levels. Business and financial; education; and production occupations also reported more online job offerings than a year ago.
Online Job Availability Rises in Four of Nine U.S. Census Bureau Regions in March
During March, demand rose in four U.S. Census Bureau regions while two remained flat. Pacific and Mid Atlantic registered the largest gains, climbing three points each. West South Central remained unchanged in March, but displays the largest three-month rise among all divisions. On an annual basis, Middle Atlantic exhibited the most improvement.
Among the 50 states and the District, 18 registered increased online job opportunities in March, led by Delaware and North Carolina. The Midwest states of Nebraska and North Dakota noted steep monthly declines. New York led all states by measure of year-on-year growth in online job demand, while California's annual growth rate displayed notable improvement in March. Nevada continues to exhibit the steepest annual decline.
All 28 Major U.S. Metro Markets Monitored By The Index Register Increases in March
During March, online recruitment activity rose in all major metropolitan markets, with Orlando, Portland and Cleveland registering the largest gains. Opportunities in Orlando expanded notably not only for blue-collar and service functions like transportation and material moving; and food preparation and serving, but also for professional occupations like business and financial operations; and IT.
Meanwhile, California's major metro markets continued their steady recovery, with Los Angeles, San Diego, and San Francisco all edging up in March, and exhibiting double-digit growth from a three-month view. The California metros saw increased opportunities in occupations related to construction and extraction, as well as high tech occupations like life, physical, and social sciences; and business.
On a year-over-year basis, 25 of the 28 markets reported positive growth, while four remained flat. Portland and Orlando continued to note the most substantial gains in online demand on the year, while Washington, DC exhibited the steepest annual decline, weighed down by a deceleration in public sector recruitment as well as private sector recruitment for professionals in occupations like legal and IT.
To obtain a full copy of the Monster Employment Index report for March 2010, and to access current individual data charts for each of the 28 metro markets tracked, please visit http://about-monster.com/employment-index. Data for the month of April 2010 will be released on May 6, 2010.
About the Monster Employment Index
Launched in April 2004 with data collected since October 2003, the Monster Employment Index is a broad and comprehensive monthly analysis of U.S. online job demand conducted by Monster Worldwide, Inc. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. All of the data and findings in the Monster Employment Index have been validated for their accuracy through independent, third party auditing conducted periodically by Research America, Inc. The audit validates the accuracy of the online job recruitment activity measured within a margin of error of +/- 1.05%.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster®, 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. To learn more about Monster's industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at http://about-monster.com/.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.'s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide's control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide's Form 10-K and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
General Information: Deepika Murty, 978-461-8765 Deepika.Murty @ monster.com
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