The Recruiting News
Monster Employment Index Sees 16% Year-Over-Year Growth, Continuing 8-Month Trend
(October 8, 2010) Month-Over-Month Increase of 1% in September
September 2010 Index Highlights:
All major metropolitan markets tracked by the Index exhibit positive annual growth
Service related industries - health care and social assistance; and professional, scientific, and technical services rise in September
Annual growth remains stable for manufacturing; and transportation and warehousing between August and September
The U.S. Monster Employment Index recorded its eighth consecutive month of positive year-over-year growth during September with a growth rate of 16 percent. This is an accelerated rate from the 12 percent in the previous month, but less than the peak of 21 percent seen during June and July. The Index rose two points (1 percent) in September as online job demand partially rebounded from the August levels.
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 September, online job availability rose in eight of the Index's 20 industry sectors and in 10 of the 23 occupational categories monitored. Index results for the past 13 months are as follows:
"Although we have seen the growth rate slow a bit over the last two months, it is encouraging that the Index continues to show positive year-on-year growth during 2010. This is a clear sign that employers are recruiting in greater numbers than they were a year ago and bodes well for steady, but continued improvement in the U.S. labor market," said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide.
Several Service Sectors Remain Strong on Monthly and Annual Basis; Accommodation and Food Services Records Slowdown in Annual Growth Rate
Online recruitment activity rose in eight and held steady in five of the 20 industries between August and September. Compared to year-ago levels, 19 industries are showing positive growth trends, with majority of the industries recording accelerated growth from August.
Several service related industries exhibited gains in September with professional, scientific, and technical services; and healthcare and social assistance both rising in the Index, recording high annual growth rates amongst the industries. Both, health care and social assistance; and transportation and warehousing recorded annual increases of 25 percent and 20 percent respectively. These are positive signs for both industries as their annual growth rate exceeds that of the overall index. Meanwhile, manufacturing (up 16 percent); saw annual growth rates remain more or less stable from the previous month.
In contrast, accommodation and food services remained one of the weaker sectors in the September Index from an annual perspective with year-over-year growth rate slightly slowing since August indicating some moderation in demand conditions.
Protective Service; and Military-Specific Occupations Register Largest Gains in September; Healthcare Support and Legal Show Strongest Year-Over-Year Growth
Overall online demand for workers rose in 10 and remained flat in four of the 23 occupational categories in September.
Among occupations, protective service and military-specific recorded the largest increases in online job availability on a monthly basis. Year-over-year sector demand trends remained strongest for healthcare support (up 31 percent) and legal (up 22 percent). Office and administrative support and healthcare support edged up between August and September as reflected by growth in the broader service-related industries. Within the more white-collar segment, the computer and mathematical (IT) occupational group also registered a rise in September.
In contrast, personal care and service; and food preparation and serving related occupations recorded a slowdown in annual growth rate as reflected by the slowdown in the larger accommodation and food services industry.
Online Job Availability Increases in Six U.S. Census Bureau Regions in September; North Dakota Records Highest Annual Growth amongst States
During September, online job availability expanded in six of the nine U.S. Census divisions between August and September. Long-term growth accelerated for Middle Atlantic, which is now the top growth region from an annual perspective. Despite improvement, annual growth remains most reserved in South Atlantic and East South Central.
Among the 50 states and the District, 36 registered increased online job opportunities in September. In contrast with previous months, the fastest annual growth rates were found in central U.S. New York, the fastest growth state in August year-over-year, slipped in the state rankings with a more moderate 21 percent annual growth rate in September. The District of Columbia was the only location in this segment of the Index with an annual decline.
Twenty Two of 28 Major U.S. Metro Markets Monitored By the Index Rise in September
Philadelphia exhibited a four point (7 percent) gain in September to lead all major metro markets in monthly growth. Although still muted relative to 2007, recruitment has expanded over the past 12 months for nearly all occupations in this market, most notably for white collar occupations like life, physical, and social sciences; legal; management and healthcare practitioners. Meanwhile, Chicago registered improvement in online recruitment trends similar to Philadelphia, with the inclusion of Computer and mathematical; and education, training, and library among the white-collar occupational groups.
The Washington DC market exhibited the most moderate annual growth among the major metros in the Index. Among occupations, demand has gradually emerged over the year for management; architecture and engineering; the sciences; and arts, design, entertainment, sports, and media.
To obtain a full copy of the Monster Employment Index report for September 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 October 2010 will be released on November 4, 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/.
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