Monster Employment Index Up Sharply in February

New York, NY, March 9, 2006-- The Monster Employment Index moved sharply higher in February, as a majority of industries, occupations, and all nine U.S. Census Bureau regions registered increased online job availability during the month. For the second consecutive month, the Index shot up six points, demonstrating strong, stepwise growth in online hiring activity, largely driven by increased demand for workers in construction and management. On a year-over-year basis, the index was up 35 points, or 29 percent, in February--a rate of growth slightly above the 2005 monthly average of 27 percent. Elevated demand for workers across much of the country in February helped drive the index to its highest level since inception, as online job availability rose for white-collar and blue-collar workers alike. The Index showed increased online recruitment across a spectrum of industries and occupations, including architecture and engineering; life, physical and social sciences; installation, maintenance, and repair; and mining. "Overall, the U.S. labor market is off to a very solid start in 2006 as strong business fundamentals continue to boost employer demand for workers, creating more job opportunities and driving the unemployment rate down to well below 5 percent," said Steve Pogorzelski, group president, international at Monster Worldwide. "Demand for workers in the U.S. remains elevated at the outset of the year, while the online migration of help-wanted advertising continues at a rapid pace. The index's findings for February clearly indicate greater confidence among employers throughout much of the country, largely due to the underlying strength of the economy. This is encouraging news for job seekers and bodes well for this year's class of college graduates as they begin their search for employment." The construction industry showed a significant spike in online demand for workers in February, indicating a strong rebound from the decline registered during the prior two months. This is likely due in part to a more accommodating climate, as much of the country experienced some of the warmest winter temperatures on record in January. Opportunities for workers in public administration also registered sharp growth last month, in advance of the approaching spring tax season, while demand in the mining industry reached a new high, driven by a continued shortage of workers and higher demand for alternative energy. Overall, online job demand for workers rose in 18 of 20 industries during February, with strong growth measured in: --Management of companies and enterprises, which surged in February, ending a four-month downward trend --Wholesale trade and retail trade, both of which showed significantly higher online demand for workers, likely due to the positive effect of warmer-than-expected weather on consumer shopping activity --Information technology, which registered the highest level of online recruitment activity to date, suggesting continued demand for U.S. technology workers, despite the growing trend among American companies of outsourcing technology work overseas. Online demand for management occupations rose sharply in February--largely due to greater employer confidence about the expanding economy, which has yielded strong balance sheets across corporate America, and likely spurred businesses to staff up across the ranks. Opportunities for workers in protective service also grew, while demand for military related workers retracted slightly, following a significant surge in January. Overall online demand for workers rose in 18 of 23 occupational categories in February, with particularly strong growth noted in the following occupations: Construction and extraction, which showed a marked rise in online recruitment activity during the month, echoed the demand seen in construction.