New York, NY, November 2, 2006--The Monster Employment Index remained unchanged in October, holding at a level of 172 and demonstrating continued stability in overall U.S. online demand during the outset of the fourth quarter.
The overall Index was partly weighed down last month by further moderating online recruitment activity in industries and occupations related to the housing and construction markets, and previously high-performing white-collar occupations such as management, legal, finance and accounting.
Nevertheless, online job demand continued to rise in other parts of the economy, most notably in energy, mining and utilities, within the healthcare sector and among security and military-related positions. Professional and technical services such as IT, design, software, advertising and marketing also exhibited strong online job availability, with computer and mathematical occupations showing 33% year-over-year growth and suggesting continued high demand for qualified technology workers.
While still 29 points higher year-over-year and showing marked improvement compared to last October, the Index recorded its lowest annual growth rate (20.3%) since its inception in October 2003, reflecting an overall slowdown in economic and payroll growth during the third quarter.
"While the October findings of the Monster Employment Index are consistent with other economic indicators that show a slowing down from the rapid pace of economic growth during the first half of 2006, the fact that unemployment rates across the country are at five-year lows suggests little slack in the overall U.S. labor market," said Steve Pogorzelski, Group President, International at Monster Worldwide. "In fact, there are numerous industries where robust expansion and existing labor shortages continue to spur demand for workers, particularly in areas such as advertising/marketing, IT/engineering, healthcare, defense/security and utilities."
Mining; Utilities; and Professional, Scientific and Technical Industry Sectors See Higher Demand for Workers in October.
During October, eight of the 20 industry categories tracked by the Index showed greater online demand for workers, led by utilities, which surged 14 points and registered the strongest month-to-month increase. Mining also edged up for the third consecutive month, rising four points. The growth of opportunities in these sectors reflects the increased investment in oil and gas technology, as well as renewed focus on sustainable energy sources, which have driven up demand for skilled workers. Online job availability in the professional, scientific and technical services sector also rose, adding three points and extending a three-month growth trend.
In contrast, online recruitment activity in the wholesale trade sector plunged 13 points, registering the sharpest decline among industries, while demand in transportation and warehousing fell 10 points, following a sharp rise the previous month. At the same time, online demand in the retail trade industry edged one point higher, extending a three-month upward trend in a likely build-up ahead of the end-of-the-year shopping season. Meanwhile, online opportunities in real estate, rental and leasing edged down one point last month and have declined over the year as the cooling housing market appears to have gradually reduced overall staffing needs in the sector.
Military Specific; IT; Arts, Design, Entertainment, Sports and Media Occupations Maintain Steady Growth Pace in October.
