Monster Employment Index Declines in December, Reflecting Seasonal Slowdown in U.S. Online Job Demand
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Monster Employment Index Declines in December, Reflecting Seasonal Slowdown in U.S. Online Job Demand
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2006-01-11
NEW YORK--(BUSINESS WIRE)--Jan. 5, 2006--Monster Worldwide, Inc. (NASDAQ: MNST)
-- Drop in Online Recruitment Activity Very Similar to Index
Readings in December of 2004 and 2003
-- Fewer Online Opportunities for Workers in Business,
Construction, and Manufacturing Likely Due to End-of-year
Seasonality
-- Index Shows Higher Online Demand for Workers in Transportation
and Accommodation Industry, As Winter Travel and Tourism
Season Begins
December 2005 Index Highlights:
-- Index falls four points to 145, as a majority of occupations,
regions and states register declines in online job demand
-- Business occupations show seasonal decline, reflecting
slowdown in recruitment for white-collar positions
-- Index shows fewer online opportunities in construction
occupations as winter weather inhibits building in many areas
of the country
-- Strong online job availability measured in the transportation
and accommodation industries, likely due to growing strength
in the U.S. hotel industry and anticipation of the winter
travel and tourism season
-- Online recruitment activity in Louisiana continues three-month
growth trend as post-hurricane recovery efforts in Gulf Coast
area continue
The Monster Employment Index declined in December, as a majority of occupations, states and all U.S. Census Bureau regions registered lower levels of online job availability during the month. The Index fell four points, from 149 in November to 145 in December, ending a four-month growth trend, but remaining 32 points higher than its year-ago level of 113. As in the declines measured in 2003 and 2004, December's drop in online recruitment activity is likely due to seasonality, as many employers have already filled holiday-related temporary positions and are awaiting the finalization of budgets for 2006. The Index's overall results for the past 13 months are as follows:
Dec. Nov. Oct. Sept. Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec.
05 05 05 05 05 05 05 05 05 05 05 05 04
----------------------------------------------------------------------
145 149 143 140 142 134 136 134 131 130 122 120 113
----------------------------------------------------------------------
"The Monster Employment Index has shown strong, steady, upward growth throughout most of 2005, with a noteworthy growth trend over the past four months, ending in an expected seasonal dip in December. The past month's decline indicates the slowdown in online hiring registered in December of 2003 and 2004, as employers typically wrap up their seasonal hiring activity and await approval on 2006 budgets," said Steve Pogorzelski, Group President, International at Monster Worldwide. "Despite this anticipated seasonal slowdown, almost all industries, occupations, regions and states show much higher levels of online job availability than a year ago, demonstrating solid growth over the course of 2005. This certainly bodes well for job seekers as we enter 2006."
Accommodation and Transportation Industries Show Higher Online Demand for Workers, as Winter Travel and Tourism Season Approaches
Online recruitment activity in the accommodation and food services industry, as well as the transportation and warehousing sector, rose sharply in December, reflecting growing strength in the U.S. hotel industry and higher demand for workers to support winter travel and tourism business. Overall, online job demand for workers rose in just eight of 20 industries during December, with strong growth measured in the following:
-- Educational services, which saw a surge in demand during
December driven by hiring demand from colleges and
universities for the upcoming spring semester; and
-- Retail trade, which edged up during the month, continuing a
four-month growth trend and suggesting that the U.S. retail
industry is looking to build upon the upward momentum of
recent sales results.
In contrast, online demand for workers in the manufacturing industry saw a noticeable decline during December, indicating a still cautious outlook among employers regarding long-term growth. This is likely due in part to strong growth in labor-replacing technology and the negative spillover effects from the waning domestic automobile industry.
Online Demand for Workers in Construction Occupations Shows a Seasonal Dip in December
Online job demand for business-related occupations declined in December, reflecting a seasonal easing back in demand for white-collar workers, as budgetary constraints likely resulted in a slower pace of worker recruitment. Occupations showing fewer online opportunities last month include management, legal, business and financial, and office and administrative. Online demand for construction workers also fell in December, ending a six-month growth trend, as winter conditions hindered building, construction and development activity in many parts of the country. The slower pace of growth in this category over the past two months is consistent with other recent economic indicators suggesting a possible cooling off in the U.S. housing sector.
Overall online demand for workers declined in 20 of 23 occupational categories in December, indicating a seasonal slowdown in online job availability across a wide spectrum of positions. The only two occupations that registered increases in online job availability during the month include:
-- Healthcare support, which continued a three-month growth trend
as nurses, medical technicians, pharmacists and home care
specialists remained in high demand; and
-- Personal care and service, which demonstrated a second month
of strong growth after dipping in October.
All Nine U.S. Regions Register Declines in December, with the West South Central Region Showing the Smallest Dip, Likely Buoyed by Gulf Coast Reconstruction Efforts
Online job demand for workers declined in all nine U.S. Census Bureau regions in December. The West South Central region registered the smallest dip as Louisiana continued to grapple with hiring needs for demolition, cleanup and repair work in the New Orleans area. Forty-four U.S. states registered declines of varying degrees during December, with Hawaii, Idaho, North and South Dakota among those seeing the sharpest drops. Alaska, Louisiana, Arizona and Washington saw the strongest gains.
To obtain a full copy of the Monster Employment Index report for December 2005, including all charts and tables, please visit http://www.monsterworldwide.com/Press_Room/MEI.html. Data for the month of January 2006 will be released on February 2, 2006.
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