EconoIndicators

Monster Employment Index At a Glance

• Index: 131
• Monthly Change: Down 12
• Year-to-year Change: Down 38 Points
• Regions Growing: 0
• Regions Unchanged: 0
• Regions Declining: 9

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Monster Employment Index Registers Sharp Decline in
December
December 2008 Index Highlights:
• Index falls 12 points in December and remains down 22 percent year-over-year
• Online job availability in finance and insurance industry declines for third
consecutive month, demonstrating dramatic impact of current financial crisis
• Demand in real estate, rental and leasing industry dips to a historical Index low,
reflecting sustained weakness in the housing sector
• Index shows fewer opportunities in the retail trade industry and for sales and
related occupations, as businesses scaled back their recruitment amid low
consumer confidence
• By contrast, agriculture, forestry, fishing and hunting; and utilities industries see
slight gains, while demand in the mining industry and opportunities for
healthcare practitioners and technical occupations remained above year-earlier
levels
• Recent slowdown in recruitment activity affecting all U.S. regions by similar
degrees, although the South has seen the most modest decline compared to a
year ago
• Online job demand declined across all 28 major metro markets with
Philadelphia recording the sharpest drop year over year
Summary Overview
The Monster Employment Index declined 12 points in December, as economic
uncertainty continued to weigh on U.S. online recruitment activity. Year-over-year, the
Index is down 22 percent, largely steady from the previous two months, suggesting
some stabilization in the rate of slowdown in the labor market following a rapid decline
during the third and fourth quarters.
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 December, online job availability rose in two of the Index’s 20 industry
categories and one of the 23 occupational categories measured. Index results for the
past 13 months are as follows:
DEC 08 NOV 08 OCT 08 SEP 08 AUG 08 JUL 08 JUN 08 MAY 08 APR 08 MAR 08 FEB 08 JAN 08 DEC 07
131 143 150 160 159 157 163 166 174 167 165 160 169
www.monster.com December 2008
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“In light of current economic conditions and the overall caution being exhibited by
employers, it is not surprising that the Monster Employment Index dipped in
December,” said Jesse Harriott, senior vice president and chief knowledge officer at
Monster Worldwide. “Although some of the decline can be attributed to end-of-year
seasonality, as the Index has dipped every month of December since its inception, the
latest results indicate that conditions in the labor market continue to deteriorate. A
somewhat encouraging sign is the fact that the Index’s year-over-year growth rate held
steady in December following a drop in both of the previous months.”
Agriculture, Forestry, Fishing and Hunting and Utilities Industries Show
Increased Online Job Demand in December
The agriculture, forestry, fishing and hunting; and utilities industries were the only two
industry categories to register an increase in online job availability in December. The
increase in the utilities industry, which bounced back from a moderate decline in
November, was likely a result of a winter seasonal rise in demand among power
generation and distribution companies, especially in the Western parts of the country
where a sharp increase in demand was visible.
In contrast, the finance and insurance industry registered the steepest decline on
record, falling to an all-time Index low and further demonstrating the negative impact
the financial crisis has had on recruitment among banks and other financial services
firms. Meanwhile, online demand in the retail trade industry dipped for the third
consecutive month as retailers faced what could be one of the worst holiday shopping
seasons in nearly two decades. Public administration dipped below year-ago levels for
the first time on record as government recruiting eased for the second consecutive
month. The arts, entertainment, and recreation; and accommodation and food services
industries also registered fewer opportunities for the third consecutive month,
indicating further slowdown in demand for leisure and hospitality workers.
On a year-over-year basis, the agriculture and mining industries are the only two
industry categories reporting growth from a year ago. Meanwhile, public administration,
which registered a moderate year-over-year decline, continues to provide some cushion
to the private sector slowdown.
Online Job Opportunities for Farming, Fishing and Forestry Occupations
Expand in December
Farming, fishing and forestry occupations were the only category to register and
increase in online demand in December, as all other occupational categories are visibly
impacted by current economic uncertainty and the issues facing the financial and housing
industries.
Meanwhile, the food preparation and serving related; personal care and service; and
sales and related occupations all registered significant declines in online job availability in
December, suggesting that slower household spending has reduced opportunities for
both services and sales workers. In fact, personal care and service offerings are down
by more than half compared to last year, showing the steepest declines among all
www.monster.com December 2008
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occupational categories. Management occupations extended a six-month downward
trend, likely the result of less demand for higher-position white-collar occupations.
Online recruitment activity also dipped in architecture and engineering; healthcare
practitioners and technical; and transportation and material moving.
On a year-over-year basis, farming, fishing and forestry led all categories in terms of
year-over-year growth, while healthcare practitioners and technical also reported
increased offerings from a year ago, suggesting a still-healthy labor market for skilled
healthcare professionals such as nurses.
Online Job Availability Falls in All Nine U.S. Census Bureau Regions in
December
Online job demand fell in all nine U.S. Census Bureau regions in December, and all nine
remain down year-over-year. The West South Central slipped for the third consecutive
month but remains the most resilient among the nine regions. The East North Central
registered the steepest rate of decline in the fourth quarter, weighed down specifically
by Michigan, while the Pacific region continued to show the sharpest drop year-over-
year. Meanwhile, the South Atlantic region reported the most moderate dip in
December.
At the state level, the Index showed lower online job availability in all of the 50 U.S.
states plus the District of Columbia during December.
Adjusting the number of online help-wanted ads for total working population, the
Monster Employment Index found the following states to be the top ten in terms of per-
capita online job availability during the month of December:
Rank State
1 Alaska
2 Maryland
3 Connecticut
4 Massachusetts
5 Delaware
6 Wyoming
7 Vermont
8 Colorado
9 Virginia
10 Rhode Island

Source: Monster