EconoIndicators / Monster Employment Index

Monster Employment Index At a Glance

October Index: 160
Monthly Change: Down 9
Year-to-year Change: Down 8 Points
Regions Growing: 0
Regions Unchanged: 0
Regions Declining: 9

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Monster Employment Index Declines in January
January 2008 Index Highlights:
• Index falls nine points, indicating further moderation in U.S. online recruitment
activity
• Online demand in the financial sector eases further as layoffs in banking
industry continue
• Fewer opportunities for retail and sales occupations indicates caution among
employers
• Leisure and hospitality sector online recruitment loses steam following rapid
growth in 2007, while lower demand for transportation workers likely reflects
elevated oil prices
• Healthcare remains strongest area of demand and top growth sector overall
• West South Central region continues to record highest year-over-year growth
• Kansas City, Boston, Detroit and Chicago show sharpest monthly declines
Summary Overview
The Monster Employment Index fell nine points in January, extending a three-month
downward trend and indicating further moderation in U.S. online recruitment activity.
The Monster Employment Index is 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®.
Similar to December, nearly all of the 20 industries and 23 occupational categories
tracked by the Index registered lower online job availability in January. In fact, only one
industry category and one occupational category edged up slightly. As a result of the
January findings, the Index’s year-over-year growth rate is now down eight points, or
nearly five percent, the first annual decline on record. Index results for the past 13
months are as follows:
JAN 08 DEC 07 NOV 07 OCT 07 SEP 07 AUG 07 JUL 07 JUN 07 MAY 07 APR 07 MAR 07 FEB 07 JAN 07
160 169 183 188 186 186 183 186 189 186 185 177 168
“The Index’s decline in January was likely due to aspects of seasonality that continued
over from the previous month as well as a slowing U.S. economy,” said Jesse Harriott,
Vice President of Research at Monster Worldwide. “The swift, recent actions by the
Federal Reserve and White House to enact fiscal and monetary measures designed to
stimulate the broader economy are encouraging signs that could help reassure
employers and consumers that an economic downturn may be brief.”
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Online Demand in Mining Industry Increases in January while all other
Industry Categories Decline
Nearly all industry categories tracked by the Index registered lower online demand in
January, with only the mining industry showing an increase of three points. Meanwhile,
online job demand in the arts, entertainment, and recreation; and accommodation and
food services industries dipped sharply in January, falling 26 and 20 points respectively,
suggesting that lower consumer confidence and household spending has made
employers in the hospitality industry hesitant to expand operations. At the same time,
online opportunities in the retail trade industry fell 12 points in January, possibly a
reflection of slower-than-expected holiday sales and a weak forecast for 2008.
Online job availability in the finance and insurance industry dropped 21 points on the
month, likely driven by slower demand in the banking sector due to the lingering crisis
in the sub-prime mortgage industry. In fact, the finance and insurance industry has
declined 28 percent over the past three months and 16 percent year-over-year. Online
recruitment dipped for the fourth consecutive month in the transportation and
warehousing industry, falling 13 points, however, the industry remains up nine percent
year-over-year, due in part to higher demand in the shipping industry spurred by rising
international trade.
Personal Care and Service Occupations Edge Higher in January, while all
other Occupational Categories Decline
During January, personal care and service was the only occupational category to register
an increase in online job demand, rising four points. Meanwhile, fewer opportunities
were reported in arts, design, entertainment, sports, and media; and food preparation
and serving related occupations, with both categories falling 13 and 12 points
respectively. At the same time, demand for sales and related occupations also declined,
falling nine points while the transportation and material moving category shed eight
points and is now down 10 percent on the year. This downward trend is likely due in
part to a lower demand for truck drivers as a result of surging oil prices and an overall
slowing economy.
Opportunities for workers in business and financial operations declined sharply in
January, and are down ten percent year-over-year, reflecting the continued impact of
the sub-prime mortgage crisis. Meanwhile, healthcare support remained the Index’s top
growth category on a year-over-year basis, signaling strong demand for lower-skill
healthcare workers, as well as other hospital support and office staff. The healthcare
practitioners and technical category is also up significantly from a year ago, though
demand has dropped substantially over the past three months. Overall, 16 of 23
occupational categories remain higher year-over-year.
Online Job Availability Declines in all Nine U.S. Census Bureau Regions in
January
During January, online job availability decreased across all nine U.S. Census Bureau
regions. Similar to December, the South Atlantic region again showed the mildest
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decline on the month. Among the regions, the West South Central continued to
record the highest over-the-year growth, up 10 percent, while the Pacific dipped the
most year-over-year, down eight percent. Forty-eight of the 50 states and the District
of Columbia registered lower online job availability in January, while Maine and South
Dakota were the only states showing increases. While all states are lower than three
months ago, Arizona, California and Florida are down the most year-over-year.
Adjusting the number of online help-wanted ads for total employment, the following
states had the highest per-workers online job availability during the month of January:
Rank State
1 Delaware
2 Massachusetts
3 Connecticut
4 Maryland
5 Arizona
6 Alaska
7 Colorado
8 New Jersey
9 California
10 Wyoming
Online Job Availability Declines in all 28 Major U.S. Metro Markets in January
During January, online recruitment activity fell in all of the 28 U.S. metro areas
monitored by the Index, with the largest decreases noted in Kansas City, Boston,
Detroit and Chicago. Meanwhile, Miami reported the most moderate decline, falling just
two points on the month. Kansas City was driven lower by fewer opportunities in
seasonal sectors, such as production and education occupations, as well as a marked
slowdown in demand for computer and math (IT); and life, physical and social science
professionals. At the same time, online recruitment in the Boston area eased due in
large part to a decline in the transportation sector, and lower demand for business and
financial operations; as well as sales and related occupations. While Detroit was
dragged down by a seasonal slump in blue-collar demand (construction, production) in
January, white-collar occupations, such as management and the sciences, have declined
the most year-over-year. Chicago also saw a sharp seasonal reduction in demand for
manufacturing workers, but is seeing the most significant year-over-year declines in
online job availability for sales and creative occupations.
On an annual basis, only 13 of the 28 markets tracked are showing increased online job
availability. Houston, Pittsburgh and St. Louis remain the top growth markets while
Baltimore, Orlando and Sacramento are down the most. Houston’s top growth sector
remains healthcare, followed by other strong areas reporting solid growth, such as
management, education and transportation. Year-over-year growth in Pittsburgh is
being fueled by sharply higher demand in the blue-collar segment, while St. Louis has
been buoyed by increased opportunities for healthcare, social services and office and
administrative support occupations.
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Top Industries Looking for Employees in January
Only one industry reported increased online job availability in January.
INDUSTRY JAN 08 DEC 07 NOV 07 OCT 07 SEP 07 JAN 07
Mining 160 157 163 171 168 189
Most Wanted Occupational Experience in January
Only one occupational category reported increased online job availability in January:
OCCUPATIONS JAN 08 DEC 07 NOV 07 OCT 07 SEP 07 JAN 07
Personal Care and Services 159 155 167 170 170 160
Online Job Demand Declines across All Nine Regions in January
Online job opportunities declined by varying degrees in all of the nine U.S. Census
Bureau Divisions in January. The regions are presented here in order of smallest
month-to-month rate of decrease:
U.S. CENSUS BUREAU
REGIONS
JAN 08 DEC 07 NOV 07 OCT 07 SEP 07 JAN 07
West South Central 236 248 265 271 268 214
New England 164 174 190 194 187 158
Mid-Atlantic 153 163 178 184 180 156
East North Central 149 158 171 174 171 149
Mountain 169 178 191 195 195 172
Pacific 155 164 179 183 183 168
West North Central 168 176 190 196 194 165
South Atlantic 151 158 169 173 172 158
East South Central 146 153 166 172 169 147
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80
90
100
110
120
130
140
150
160
170
180
190
200
Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan
Monster Employment Index, 2006-2007
JAN 07 FEB 07 MAR 07 APR 07 MAY 07 JUN 07 JUL 07 AUG 07 SEP 07 OCT 07 NOV 07 DEC 07 JAN 08
168 177 185 186 189 186 183 186 186 188 183 169 160
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By Region
2008 2007
Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan
New England 164 174 190 194 187 188 188 188 188 181 172 167 158
Mid-Atlantic 153 163 178 184 180 180 177 179 181 178 172 165 156
East North Central 149 158 171 174 171 169 166 167 169 168 163 158 149
West North Central 168 176 190 196 194 191 185 189 191 189 182 174 165
South Atlantic 151 158 169 173 172 172 170 173 176 175 171 165 158
East South Central 146 153 166 172 169 168 164 167 169 169 165 158 147
West South Central 236 248 265 271 268 266 260 260 262 256 247 232 214
Mountain 169 178 191 195 195 195 189 191 194 195 188 177 172
Pacific 155 164 179 183 183 184 183 187 195 201 196 182 168
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By Industry
2008 2007
Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan
Agriculture, Forestry,
Fishing and Hunting
162 171 171 171 171 171 173 171 164 150 143 141 136
Mining 160 157 163 171 168 166 167 169 175 189 191 193 189
Utilities 142 159 198 186 172 172 172 175 178 194 183 182 167
Construction 195 202 215 222 228 222 214 219 232 245 236 236 230
Manufacturing 104 116 126 132 130 126 126 132 134 135 134 133 128
Wholesale Trade 154 159 167 173 172 168 163 164 165 159 147 148 144
Retail Trade 148 160 180 186 185 180 187 188 194 192 190 185 179
Transportation and
Warehousing
163 176 195 201 209 198 190 198 191 186 178 164 149
Information 115 127 141 146 142 142 136 136 140 131 130 122 122
Finance and Insurance 112 133 147 156 153 154 148 146 140 135 136 138 134
Real Estate and Rental and
Leasing
99 105 124 134 138 145 149 148 150 142 136 127 125
Professional, Scientific,
and Technical Services
123 134 153 157 153 153 151 154 160 161 159 152 148
Management of
Companies
and Enterprises
144 149 160 162 156 158 161 152 157 161 159 157 147
Administrative, Support,
Waste Management,
Remediation
86 95 117 124 120 119 112 111 109 105 106 104 101
Educational Services 101 112 123 126 133 130 130 135 134 131 121 120 119
Healthcare and Social
Assistance
108 115 125 127 124 121 120 120 122 120 119 119 115
Arts, Entertainment, and
Recreation
96 122 143 166 173 161 153 153 155 162 173 167 165
Accommodation and
Food Services
128 148 167 167 170 169 169 170 177 172 169 162 160
Public Administration 185 188 188 184 155 155 161 159 156 153 150 145 140
Other Services 192 198 210 215 217 220 218 226 231 230 228 214 206
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By Occupation
2008 2007
Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan
Management 178 183 194 199 194 197 192 191 194 201 189 186 174
Business and Financial
Operations 175 189 207 210 206 208 208 207 215 217 213 207 194
Computer and Mathematical 157 167 178 183 181 181 179 182 184 189 181 175 166
Architecture and
Engineering 173 182 196 202 198 198 194 195 194 202 196 190 179
Life, Physical, and Social
Science 147 156 166 174 168 168 168 169 170 171 167 168 156
Community and Social
Services 196 200 216 213 218 218 209 209 215 210 214 215 204
Legal 167 186 218 214 217 211 216 224 245 245 243 209 182
Education, Training, and
Library 137 147 158 160 168 164 157 164 161 159 151 146 133
Arts, Design, Entertainment,
Sports, and Media 126 139 151 156 157 157 160 165 165 161 160 155 148
Healthcare Practitioners and
Technical 162 170 182 185 182 179 178 181 174 169 168 143 135
Healthcare Support 205 206 209 209 209 213 209 209 197 184 175 147 144
Protective Service 142 164 176 177 174 179 180 176 174 170 171 170 159
Food Preparation and
Serving Related 152 164 173 175 178 180 185 193 189 203 181 168 163
Building, Grounds Cleaning,
Maintenance 136 141 150 155 155 158 153 155 161 164 154 142 128
Personal Care and Service 159 155 167 170 170 173 168 170 189 236 195 183 160
Sales and Related 122 131 145 150 150 147 145 147 151 151 151 150 147
Office and Administrative
Support 145 154 172 177 174 175 168 172 181 184 179 171 157
Farming, Fishing, and
Forestry 140 142 140 142 142 142 142 143 148 148 142 126 109
Construction and Extraction 124 131 143 149 153 150 146 149 153 154 146 142 132
Installation, Maintenance,
and Repair 154 160 172 179 183 182 176 178 184 184 176 172 159
Production 131 139 149 154 153 150 147 149 151 151 148 144 134
Transportation and Material
Moving 108 116 128 132 135 132 131 132 134 135 131 124 120
Military Specific 159 184 183 193 170 167 165 163 163 160 166 175 191
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By Local Market
2008 2007
Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan
Atlanta 123 134 146 149 145 140 138 142 143 144 139 136 115
Baltimore 86 94 101 104 103 103 100 103 127 129 126 123 109
Boston 120 135 152 153 150 147 152 150 154 137 132 128 113
Chicago 106 120 142 142 144 141 137 139 138 142 134 132 108
Cincinnati 124 135 151 158 150 143 143 148 143 147 133 130 112
Cleveland 114 127 137 140 136 135 131 134 141 140 135 129 112
Dallas 128 137 150 150 148 144 140 142 142 141 134 129 116
Denver 125 136 145 149 151 147 142 144 144 137 130 120 112
Detroit 105 119 135 138 139 132 129 134 135 133 128 130 110
Houston 146 153 163 164 162 163 158 157 155 154 149 143 129
Indianapolis 98 108 120 124 123 118 115 118 125 129 120 118 104
Kansas City 123 140 159 162 156 153 143 148 144 144 133 133 120
Los Angeles 90 100 114 116 117 118 117 123 135 145 144 133 106
Miami 92 94 105 105 109 106 105 108 108 113 113 109 102
Minneapolis 115 122 134 137 134 128 123 130 129 128 122 122 114
New York City 108 117 131 131 133 130 127 130 133 134 129 128 111
Orlando 70 75 88 86 90 85 85 91 104 105 101 97 89
Philadelphia 98 108 125 126 130 124 121 126 136 130 128 116 111
Phoenix 99 107 117 120 121 122 115 117 118 117 115 110 104
Pittsburgh 140 149 161 157 155 145 141 148 142 142 140 133 124
Portland 114 126 153 163 159 160 146 148 150 142 138 124 112
Sacramento 89 98 116 120 121 118 116 119 126 124 123 117 108
San Diego 91 96 105 110 112 114 110 116 122 127 127 116 108
San Francisco 100 110 122 125 125 129 123 126 126 126 124 124 115
Seattle 120 133 147 151 151 149 143 148 152 142 137 129 116
St. Louis 137 147 160 166 167 158 151 162 155 153 152 140 121
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Tampa 90 97 104 103 104 104 102 104 108 109 110 105 97
Washington, D.C. 90 103 118 120 123 120 114 121 131 132 130 136 108
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 on a monthly basis 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. (NASDAQ: MNST), 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 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.
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.