EconoIndicators / Monster Employment Index

Monster Employment Index At a Glance

March Index: 167
Monthly Change: Up 2
Year-to-year Change: Down 18 Points
Regions Growing: 8
Regions Unchanged: 0
Regions Declining: 1

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www.monster.com March 2008
CONTACTS:
Kathryn Burns
Monster Worldwide
(212) 351-7063
kathryn.burns@monsterworldwide.com
Andy Rohr
Weber Shandwick
(617) 520-7030
arohr@webershandwick.com
Monster Employment Index Edges Slightly
Higher in March
March 2008 Index Highlights:
• Index edges up two points, but remains down 10 percent from year-ago
reading
• Sharp drop in online job availability in finance and insurance industry reflects
continued turmoil in U.S. financial sector
• Demand increases within goods producing sector, as well as arts and
entertainment industry, while opportunities in government and healthcare
remain elevated
• New England region registers sharpest monthly decline in online recruitment
activity
• Key Pacific Northwest metro areas (Portland and Seattle) show strongest gains
among top 28 local markets
Summary Overview
The Monster Employment Index edged up two points in March, as overall U.S. online
job availability rose moderately for the second consecutive month, but remained down
10 percent from a year ago. 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®.
During March, a majority of industry and occupational categories tracked showed
greater online job demand compared to the previous month, with 16 of 20 industries
and 15 of 23 occupations registering gains. Index results for the past 13 months are as
follows:
MAR 08 FEB 08 JAN 08 DEC 07 NOV 07 OCT 07 SEP 07 AUG 07 JUL 07 JUN 07 MAY 07 APR 07 MAR 07
167 165 160 169 183 188 186 186 183 186 189 186 185
“The Monster Employment Index’s slight increase in March was below historical levels
for this time of year, and reflects a continued slowdown in overall employer recruitment
activity,” said Jesse Harriott, Vice President of Research at Monster Worldwide. “This
month’s results also underscore the adverse effect the sub-prime mortgage industry
fallout has had on hiring efforts in the financial services sector, particularly in the
Northeast region of the country. Nevertheless, the Index is still above its reading in
March of 2006 and online job demand remains strong in certain sectors such as
healthcare and government.”
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www.monster.com March 2008
Online Demand in Arts, Entertainment and Recreation Industry Surges,
while Opportunities in Finance and Insurance Decline Sharply
Arts, entertainment and recreation registered one of the largest gains in online job
demand among industries in March, ending a five-month downward trend. From a
seasonal standpoint, March and April have historically been months of heavily increased
recruitment activity for both the creative/entertainment industry and its specific
occupations. This has typically occurred after a muted winter period, according to
historical Index patterns. Online job availability also rose in the transportation and
warehousing industry last month; however the category is now showing a year-overyear
decline for the first time since the Index’s inception. This suggests that the strain
of higher fuel costs and the uncertainty around future oil prices may be tempering
employer demand in the sector. Other industry categories notching gains last month
include information; manufacturing; public administration; and retail trade.
In contrast, the finance and insurance industry experienced the sharpest monthly decline
in online opportunities, mirroring continued weakness in the U.S. financial sector.
On a year-over-year basis, three of the Index’s industry categories are showing greater
online job availability compared to a year ago, with public administration; and
agriculture, forestry, fishing and hunting continuing to rank as the top two growth
categories, respectively. At the opposite end of the spectrum, the arts, entertainment
and recreation industry has experienced the steepest year-over-year reduction, despite
the gain last month.
Demand for Legal and Protective Service Occupations Continues to Slow,
While Healthcare Opportunities Remain Elevated
During March, the healthcare practitioners and technical category registered the most
substantial increase in online job demand among all occupations tracked. Meanwhile,
opportunities for workers in the areas of computer and mathematical (IT) and life,
physical and social science rose for the second consecutive month for the first time in
more than a year.
In contrast, online job availability for management occupations declined sharply,
reversing a sizable gain in the previous month, while online offers for positions in
business and financial operations also contracted on the month. Demand for legal
occupations edged down slightly, suggesting that weak employment trends for new law
school graduates may persist. At the same time, opportunities for protective service
occupations were flat, halting a four-month downward trend.
On a year-over-year basis, four of the Index’s occupational categories are currently
showing greater online job availability. After farming, fishing and forestry, the healthcare
support and healthcare practitioner categories remain the Index’s top growth
occupations over the last 12 months. At the other end of the spectrum, the protective
service category is down 41 percent from a year ago, and only the legal and personal
care categories have exhibited weaker trends.
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www.monster.com March 2008
Online Job Availability Rises in Eight of Nine U.S. Census Bureau Regions in
March
During March, online job availability increased in eight of the nine U.S. Census Bureau
regions, with the West South Central region showing the strongest gain, followed
closely by the Mountain and East South Central regions. Online demand in the New
England region registered the sharpest decline, weighed down largely by the financial
services sector. Year-over-year, nearly all nine regions are showing lower online job
availability, with only the West South Central showing an increase.
At the state level, online job demand rose in 31 of the 50 U.S. states plus the District of
Columbia between February and March.
Adjusting the number of online help-wanted ads for total employment, the following
states had the highest per-worker online job availability during March:
Rank State
1 Delaware
2 Alaska
3 Massachusetts
4 Connecticut
5 Maryland
6 Arizona
7 Colorado
8 New Jersey
9 California
10 Washington
Online Job Availability Rises in 10 of the Top 28 Major U.S. Metro Markets
During March, online recruitment activity rose in 10 of the 28 U.S. metro areas
monitored by the Index, with Portland showing the largest increase, fueled by higher
demand for healthcare and public service professionals. Seattle was the second
strongest market on the month, followed by Pittsburgh, Detroit and Cleveland.
Meanwhile, Boston and San Francisco registered the sharpest declines, reflecting lower
online recruitment activity for white-collar occupations.
On an annual basis, six of the 28 markets are now showing greater online job availability
compared to a year ago, with Pittsburgh ranking as the top growth market year-overyear
for the second consecutive month. Houston and Dallas remained among the top
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www.monster.com March 2008
five amid continued high demand for healthcare, military and management occupations.
In contrast, Los Angeles has registered the steepest drop over the past 12 months,
burdened by fewer opportunities in construction.
Top Industries Looking for Employees in March
Industries showing the greatest increase in online job availability in March included:
INDUSTRY MAR 08 FEB 08 JAN 08 DEC 07 NOV 07 MAR 07
Public Administration 217 208 185 188 188 150
Arts, Entertainment and
Recreation 92 84 96 122 143 173
Other Services 211 203 192 198 210 228
Construction 211 205 195 202 215 236
Manufacturing 117 111 104 116 126 134
Most Wanted Occupational Experience in March
Occupational categories registering most significant increases in online job demand in
March included:
OCCUPATIONS MAR 08 FEB 08 JAN 08 DEC 07 NOV 07 MAR 07
Healthcare Practitioners and
Technical 181 166 162 170 182 168
Building/Grounds
Cleaning/Maintenance 154 145 136 141 150 154
Construction and Extraction 137 129 124 131 143 146
Military Specific 169 161 159 184 183 166
Healthcare Support 201 195 205 206 209 175
Online Job Demand Rises in Eight of Nine Regions in March
Online job opportunities rose by varying increases in eight of the nine U.S. Census
Bureau Divisions in March. The regions are presented here in order of largest monthly
increase:
U.S. CENSUS BUREAU
REGIONS
MAR 08 FEB 08 JAN 08 DEC 07 NOV 07 MAR 07
West South Central 250 245 236 248 265 247
Mountain 173 170 169 178 191 188
East North Central 159 157 149 158 171 163
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East South Central 154 152 146 153 166 165
Pacific 158 156 155 164 179 196
Middle Atlantic 160 159 153 163 178 172
West North Central 178 177 168 176 190 182
South Atlantic 156 155 151 158 169 171
New England 167 172 164 174 190 172
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80
90
100
110
120
130
140
150
160
170
180
190
200
Mar Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar
Monster Employment Index, 2007-2008
MAR 07 APR 07 MAY 07 JUN 07 JUL 07 AUG 07 SEP 07 OCT 07 NOV 07 DEC 07 JAN 08 FEB 08 MAR 08
185 186 189 186 183 186 186 188 183 169 160 165 167
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By Region
2008 2007
Mar Feb Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar
New England 167 172 164 174 190 194 187 188 188 188 188 181 172
Mid-Atlantic 160 159 153 163 178 184 180 180 177 179 181 178 172
East North Central 159 157 149 158 171 174 171 169 166 167 169 168 163
West North Central 178 177 168 176 190 196 194 191 185 189 191 189 182
South Atlantic 156 155 151 158 169 173 172 172 170 173 176 175 171
East South Central 154 152 146 153 166 172 169 168 164 167 169 169 165
West South Central 250 245 236 248 265 271 268 266 260 260 262 256 247
Mountain 173 170 169 178 191 195 195 195 189 191 194 195 188
Pacific 158 156 155 164 179 183 183 184 183 187 195 201 196
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By Industry
2008 2007
Mar Feb Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar
Agriculture, Forestry,
Fishing and Hunting
200 196 162 171 171 171 171 171 173 171 164 150 143
Mining, Quarrying and Oil
and Gas Extraction
168 172 160 157 163 171 168 166 167 169 175 189 191
Utilities 127 124 124 159 198 186 172 172 172 175 178 194 183
Construction 211 205 195 202 215 222 228 222 214 219 232 245 236
Manufacturing 117 111 104 116 126 132 130 126 126 132 134 135 134
Wholesale Trade 164 165 154 159 167 173 172 168 163 164 165 159 147
Retail Trade 154 150 148 160 180 186 185 180 187 188 194 192 190
Transportation and
Warehousing
174 168 163 176 195 201 209 198 190 198 191 186 178
Information 124 119 115 127 141 146 142 142 136 136 140 131 130
Finance and Insurance 117 120 112 133 147 156 153 154 148 146 140 135 136
Real Estate and Rental and
Leasing
108 107 99 105 124 134 138 145 149 148 150 142 136
Professional, Scientific,
and Technical Services
133 130 123 134 153 157 153 153 151 154 160 161 159
Management of
Companies
and Enterprises
150 152 144 149 160 162 156 158 161 152 157 161 159
Administrative, Support,
Waste Management,
Remediation Services
97 95 86 95 117 124 120 119 112 111 109 105 106
Educational Services 114 113 101 112 123 126 133 130 130 135 134 131 121
Healthcare and Social
Assistance
116 113 108 115 125 127 124 121 120 120 122 120 119
Arts, Entertainment, and
Recreation
92 84 96 122 143 166 173 161 153 153 155 162 173
Accommodation and
Food Services
140 137 128 148 167 167 170 169 169 170 177 172 169
Public Administration 217 208 185 188 188 184 155 155 161 159 156 153 150
Other Services 211 203 192 198 210 215 217 220 218 226 231 230 228
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By Occupation
2008 2007
Mar Feb Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar
Management 173 184 178 183 194 199 194 197 192 191 194 201 189
Business and Financial
Operations
177 183 175 189 207 210 206 208 208 207 215 217 213
Computer and
Mathematical
162 160 157 167 178 183 181 181 179 182 184 189 181
Architecture and
Engineering
177 173 173 182 196 202 198 198 194 195 194 202 196
Life, Physical, and Social
Science
156 153 147 156 166 174 168 168 168 169 170 171 167
Community and Social
Services
190 204 196 200 216 213 218 218 209 209 215 210 214
Legal 171 175 167 186 218 214 217 211 216 224 245 245 243
Education, Training, and
Library
144 142 137 147 158 160 168 164 157 164 161 159 151
Arts, Design,
Entertainment, Sports, and
Media
128 125 126 139 151 156 157 157 160 165 165 161 160
Healthcare Practitioners
and Technical
181 166 162 170 182 185 182 179 178 181 174 169 168
Healthcare Support 201 195 205 206 209 209 209 213 209 209 197 184 175
Protective Service 130 130 142 164 176 177 174 179 180 176 174 170 171
Food Preparation and
Serving Related
159 161 152 164 173 175 178 180 185 193 189 203 181
Building, Grounds
Cleaning, Maintenance
154 145 136 141 150 155 155 158 153 155 161 164 154
Personal Care and Service 126 120 159 155 167 170 170 173 168 170 189 236 195
Sales and Related 128 125 122 131 145 150 150 147 145 147 151 151 151
Office and Administrative
Support
150 152 145 154 172 177 174 175 168 172 181 184 179
Farming, Fishing, and
Forestry
172 174 140 142 140 142 142 142 142 143 148 148 142
Construction and
Extraction
137 129 124 131 143 149 153 150 146 149 153 154 146
Installation, Maintenance,
and Repair
164 159 154 160 172 179 183 182 176 178 184 184 176
Production 145 142 131 139 149 154 153 150 147 149 151 151 148
Transportation and 111 108 108 116 128 132 135 132 131 132 134 135 131
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Material Moving
Military Specific 169 161 159 184 183 193 170 167 165 163 163 160 166
By Local Market
2008 2007
Mar Feb Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar
Atlanta 127 129 123 134 146 149 145 140 138 142 143 144 139
Baltimore 88 89 86 94 101 104 103 103 100 103 127 129 126
Boston 123 131 120 135 152 153 150 147 152 150 154 137 132
Chicago 115 121 106 120 142 142 144 141 137 139 138 142 134
Cincinnati 132 137 124 135 151 158 150 143 143 148 143 147 133
Cleveland 133 129 114 127 137 140 136 135 131 134 141 140 135
Dallas 139 138 128 137 150 150 148 144 140 142 142 141 134
Denver 133 130 125 136 145 149 151 147 142 144 144 137 130
Detroit 128 123 105 119 135 138 139 132 129 134 135 133 128
Houston 159 157 146 153 163 164 162 163 158 157 155 154 149
Indianapolis 111 114 98 108 120 124 123 118 115 118 125 129 120
Kansas City 140 145 123 140 159 162 156 153 143 148 144 144 133
Los Angeles 98 99 90 100 114 116 117 118 117 123 135 145 144
Miami 91 95 92 94 105 105 109 106 105 108 108 113 113
Minneapolis 124 123 115 122 134 137 134 128 123 130 129 128 122
New York City 113 117 108 117 131 131 133 130 127 130 133 134 129
Orlando 76 77 70 75 88 86 90 85 85 91 104 105 101
Philadelphia 106 105 98 108 125 126 130 124 121 126 136 130 128
Phoenix 102 104 99 107 117 120 121 122 115 117 118 117 115
Pittsburgh 153 147 140 149 161 157 155 145 141 148 142 142 140
Portland 135 128 114 126 153 163 159 160 146 148 150 142 138
Sacramento 93 95 89 98 116 120 121 118 116 119 126 124 123
San Diego 98 98 91 96 105 110 112 114 110 116 122 127 127
San Francisco 103 109 100 110 122 125 125 129 123 126 126 126 124
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Seattle 137 131 120 133 147 151 151 149 143 148 152 142 137
St. Louis 149 149 137 147 160 166 167 158 151 162 155 153 152
Tampa 95 95 90 97 104 103 104 104 102 104 108 109 110
Washington, D.C. 100 101 90 103 118 120 123 120 114 121 131 132 130