The Recruiting News
Year-Over-Year Growth Rate Continues to Remain Positive
(November 5, 2010) Year-Over-Year Growth Rate Continues to Remain Positive in October, According to Monster Employment Index
Month-Over-Month Growth Eases 1% in October
October 2010 Index Highlights:
"Despite the contraction in the annual growth rate, expansion continues in a sustained manner for several large industries and markets over the long term"
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 October, online job availability rose in 10 of the Index's 20 industry sectors and in eight of the 23 occupational categories monitored. Index results for the past 13 months are as follows:
"Despite the contraction in the annual growth rate, expansion continues in a sustained manner for several large industries and markets over the long term," said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. "Conditions also continue to be favorable across the country, with opportunities rising above the levels they were last year in all major metro markets monitored by the Index."
Trade Related Sectors Record Strong Growth on Annual Basis, While Healthcare and Social Assistance Eases
Online recruitment activity rose in 10 and held steady in three of the 20 industries between September and October. Compared to year-ago levels, 17 industries are showing positive growth trends, with majority of the industries recording accelerated growth from September.
Online job demand rose for trade and related sectors with transportation and warehousing growing to its highest level this year and recording an accelerated growth rate of 27 percent in October compared to 20 percent in September. This increase coincides with the Department of Commerce's latest data on import and export values, which continue to exhibit year-over-year gains. Online recruitment activity also expanded for the wholesale trade and retail trade sectors, with annual growth accelerating to 12 percent and 13 percent respectively. Apart from retail trade, consumer-driven sectors such as accommodation and food services; and arts, entertainment, and recreation saw relatively stable over the longer term.
Meanwhile, in contrast to the general trend recorded this year, health care and social assistance edged down in October with the 12-month growth rate for the sector easing to 11 percent in October from 25 percent in September. However, the long-term trend still continues to remain positive aligning with payroll data that shows the sector expanding by more than 25,000 workers on a monthly basis so far in 2010. Professional, scientific, and technical services also eased on an annual basis at 18 percent in October from 20 percent in September.
Legal; and Transportation and Material Moving Occupations Register Largest Gains on Annual Basis in October
Overall online demand for workers rose in eight and remained flat in one of the 23 occupational categories in October.
Among occupations, year-over-year demand trends moved upward for legal and computer-related professionals, as exhibited by the annual growth in the broader information; and finance and insurance industries. Online job demand was relatively tempered for most other white-collar occupations.
Online Job Availability Increases in One U.S. Census Bureau Region in October on Monthly Basis; Arizona Records Highest Annual Growth amongst States
During October, online job availability expanded in one of the nine U.S. Census divisions on a monthly basis. Long-term growth held steady at 18 percent for West North Central, which is now the top growth region from an annual perspective, while all others registered moderation in annual growth rates. Year-over-year change was mildest in South Atlantic.
Among the 50 states and the District, 16 registered increased online job opportunities in October. In line with September's trends, the fastest annual growth rates continued to be recorded in central U.S.A. Among the most populous states, New York maintained a relatively rapid 17 percent annual growth pace in October. In contrast, the District of Columbia was the only location to register an annual decline.
Thirteen of 28 Major U.S. Metro Markets Monitored By the Index Rise Month-over-Month; All 28 Metro Markets Up Year-over-Year
Portland's annual month growth rate accelerated to 32 percent, reflecting a substantial improvement in the long-term trend relative to previous months due to notable increase in demand for transportation and material moving; IT; arts, design, entertainment, sports, and media; and management occupations.
Boston registered the most substantial acceleration in long-term growth rate (30 percent year-over-year in October from 19 percent in September) due to notable improvement in annual growth rate for sales; office and administrative support; and legal occupations. Transportation and material moving; production, and most white-collar occupational categories outside of the sciences also exhibited relatively strong year-over-year growth in this market.
In contrast, Baltimore registered the largest slowdown in annual growth easing to 11 percent in October from 18 percent in September. Annual growth trends for white-collar occupations were relatively weak, apart from occupations related to life, physical and social sciences, and demand levels still remain well below their respective baselines.
To obtain a full copy of the Monster Employment Index report for October 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 November 2010 will be released on December 2, 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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