EconoIndicators

Monster Employment Index At a Glance

• Index: 150
• Monthly Change: Down 10
• Year-to-year Change: Down 38 Points
• Regions Growing: 0
• Regions Unchanged: 0
• Regions Declining: 9

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Monster Employment Index Declines Sharply in

October

October 2008 Index Highlights:

• Index drops 10 points in October, following mild increases in August and

September

• Year-on-year, the Index is now down 20 percent, indicating continued

deceleration in online recruitment activity at the onset of the fourth quarter

• Real estate, leisure and hospitality and retail trade industries register strongest

monthly declines in online job availability, while opportunities in mining and

utility industries show continued expansion

• Four-month growth trend in public administration (the Index’s top growth

industry year-over-year) suggests that government hiring continues

• Only the protective service occupational category saw increased opportunities

in October, while healthcare practitioners and technical remains among the top

occupational growth categories year-over-year

• Pittsburgh is the only major metropolitan market showing a year-over-year

increase in online recruitment activity

Summary Overview

The Monster Employment Index dropped ten points in October, as a majority of

industries and occupations registered fewer online job opportunities and overall U.S.

online job availability fell to its lowest level since 2005. Year-over-year, the Index is

now down 20 percent, reflecting continued deceleration in online recruitment activity at

the outset of the fourth quarter.

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®.

During October, online job availability rose in three of the Index’s 20 industry

categories and in one of the 23 occupational categories measured. Index results for the

past 13 months are as follows:

OCT 08 SEP 08 AUG 08 JUL 08 JUN 08 MAY 08 APR 08 MAR 08 FEB 08 JAN 08 DEC 07 NOV 07 OCT 07

150 160 159 157 163 166 174 167 165 160 169 183 188

“The sharp decline in the Monster Employment Index in October suggests that U.S.

businesses are scaling back their recruitment efforts due to uncertainty surrounding the

global financial crisis and current economic conditions,” said Jesse Harriott, Vice

President of Research at Monster Worldwide. “However, there are still pockets of

elevated demand for workers in areas such as mining, healthcare and government,

where online job opportunities remain above levels seen at this time last year.”

Public Administration; Mining and Utility Industries Extend Growth Trends

in October

The utilities industry registered the highest rate of increase in online job availability in

October, likely a result of the approaching winter season. Meanwhile, online

opportunities in the mining industry increased for the fourth consecutive month,

reflecting the continued expansion of oil and gas exploration activity across the county.

The public administration industry also registered stepped-up online demand, edging

higher for the fourth consecutive month and suggesting that the government sector is

still producing job opportunities at a solid pace.

In contrast, the retail trade industry experienced a sharp drop in online recruitment

activity in October, offsetting gains during the previous two months and suggesting that

employers have grown cautious amid waning consumer confidence and lowered

expectations for the upcoming holiday season. Accommodation and food services; and

arts, entertainment and recreation, two other industries historically sensitive to

consumer spending, also registered a steep decline in online job demand during the

month, while the real estate and rental and leasing; and finance and insurance categories

showed further weakness, too.

On a year-over-year basis, public administration remains the Index’s fastest growing

industry category, followed by mining – the only other industry category showing an

increase in demand over the year.

Online Job Opportunities in Protective Service Expand in October

Protective service was the only occupational category to show growth in online job

availability in October. However, over the year, the category is down three percent,

suggesting gradually reduced hiring among law enforcement, fire, and other public

protective service agencies compared to last year.

In contrast, personal care and service occupations saw the largest drop in online

demand during the month, followed closely by legal; and sales and related occupations.

Healthcare practitioners and technical also declined in October, falling for the second

consecutive month after strong growth during the first eight months of the year.

On a year-over-year basis, farming, fishing and forestry remained the Index’s top rated

occupational growth category for the sixth consecutive month. Opportunities for

healthcare practitioners and technical occupations are also greater than a year ago,

indicating sustained high demand for skilled healthcare workers.

Monster Employment Index – October 2008 [PDF]

Source: Monster