New York, NY, December 7, 2006--The Monster Employment Index rose three points to a level of 175 in November, demonstrating stepped-up U.S. online recruitment activity as employers increased their year-end and holiday season hiring efforts. Climbing to its highest reading since its inception in October 2003, the index is now showing year-over-year growth of 26 points.
"November's rise was the Monster Employment Index's largest gain in three months, and reflects a broad seasonal pattern of increased online recruitment efforts among employers seeking to fill annual hiring quotas and add temporary resources in preparation for the holidays," said Steve Pogorzelski, group president, International at Monster Worldwide. "However, lower gas prices, a recovering airline industry, and soaring imports from East Asia also contributed to the boost in demand for workers in industries such as transportation and warehousing, which saw the biggest spike in online job availability among industry groups."
The overall Index rose last month primarily due to increased online recruitment activity in industries and occupations closely related to the holiday season, as employers in the transportation, shipping and warehousing industries began adjusting staffing levels. Although the cooling U.S. housing market continued to negatively impact recruitment activity in a number of industries, particularly in the real estate, rental and leasing industry, recruitment in the construction industry edged higher for the fourth consecutive month amid expanded commercial construction projects. Meanwhile, online recruitment for life, physical and social science occupations also rose for the fourth consecutive month amid higher demand for researchers and other scientists in both the pharmaceutical and high tech industries.
On a year-over-year basis, the Monster Employment Index is now showing growth of 17.4 percent - the index's lowest annual growth rate since its inception.
"The year-over-year ease-up in online recruitment activity across the more than 1,500 Web sites tracked by the index is clearly in line with other indicators showing a broader U.S. economic slowdown in the second half of 2006," added Pogorzelski. "However, it's important to note that activity measured by the index in November 2005 was exceptionally strong due to post-Hurricane Katrina reconstruction efforts. In fact, that month saw the strongest monthly payroll gain since March of 2000."
Transportation and Warehousing; Construction; and Utilities Industry Sectors See Higher Demand for Workers in November
While only five of the 20 industry sectors tracked by the Monster Employment Index showed an increase in online recruitment activity during November, the gains served to offset mostly mild-to-moderate declines in other sectors. Transportation and warehousing registered the largest rate of increase last month, jumping 10 points and rebounding strongly from a sharp decline in October. The rise was mostly due to stepped-up recruiting activities among shipping and parcel companies in advance of the busy holiday shopping, entertainment and travel season. Meanwhile, online recruitment in the construction industry rose seven points, reflecting continued strength in non-residential and non-building construction projects, such as those related to public works construction, which has helped pick up the slack from the slowing residential housing market. Online demand for skilled utility workers also edged up in November, adding three points on top of a significant jump in October and further demonstrating the country's strong focus on sustainable energy sources.
