Monster Employment Index Rebounds Strongly in August

NEW YORK ñ Following a seasonal decline in July, the Monster Employment Index rose sharply in August, climbing eight points to a level of 173 and demonstrating a strong rebound in U.S. online recruitment activity. Seven out of nine regions saw stronger levels during the month and the Index now stands 31 points (22 percent) higher year-over-year. While the August Index results show a clear elevation in online recruitment activity following the mid-summer downturn, this is the lowest year-over-year increase since the Indexís inception, suggesting the U.S. economy is assuming a more moderate rate of growth due, in part, to the cooling housing market and the continued elevation of fuel costs.

Seasonality related factors helped drive the Index higher, with increased demand for workers in retail trade and greater online job availability for workers in the education, training and library occupations. After dipping in July, demand for management workers rebounded strongly while online recruitment activity for workers in business and financial operations and IT-related occupations continued trending upwards, suggesting a solid hiring environment for white-collar professionals. Public administration registered the largest year-over-year growth rate since the Indexís inception, indicating increased hiring among government entities.

ìThe August findings of the Monster Employment Index indicate a strong rebound following the hiring doldrums typically seen in the summer months and signify we are heading back to a business-as-usual environment. Increased demand for managers and executives ñ along with continuing strong demand for skilled IT workers ñ is particularly encouraging.î said Steve Pogorzelski, Group President, International at Monster Worldwide. ìIn addition, retailers aggressively promoted back-to-school season and thus, sought to hire additional staff to adequately service consumers.î

Index Shows Significantly Higher Demand for Workers in Transportation and Warehousing
During August, 11 of the 20 industry categories tracked by the Index showed increases of varying degrees, led by sharply higher demand for workers in transportation and warehousing, which rose 14 points after declining sharply in July. The Index showed a spike in online job demand for public administration and retail trade workers, as government organizations and retailers staff in preparation for renewed activity this fall. In contrast, demand for workers in the utilities industry fell, ending a four-month upward growth trend. Opportunities in the arts, entertainment, and recreation industry also fell, due in part in to a seasonal lull in vacation and holiday related travel.

Online Recruitment Activity Surges for Personal Care and Service Occupations Surges; Demand for Workers in Farming, Fishing and Forestry Dips
Eighteen of the 23 occupational categories tracked by the Index showed increases of varying degrees in August, with personal care and service occupations registering the sharpest rise, jumping 13 points and helping fuel the Indexís upward climb. Demand for education, training and library occupations surged, as schools and colleges prepare for the fall semester. Also, opportunities in management as well as business and financial operations both increased indicating strong demand for white-collar workers. Online job availability for computer and mathematical occupations edged up four points, making it among the top performing occupations of the year, and demonstrating continued strong demand for IT professionals.

In contrast, online recruitment for farming, fishing and forestry occupations fell, dipping six points and registering the strongest rate of decline among occupations, as recruitment activity slowed following the elevated demand typically seen during the summer months.

Seven of Nine U.S. Census Bureau Regions See Greater Online Recruitment Activity in August
Online recruitment activity increased in seven of nine U.S. Census Bureau regions in August, with only the West North Central region ñ which includes Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota ñ dipping one point and the Pacific region remaining unchanged. The Mountain region registered the most substantial surge, up 10 points, with New Mexico helping to drive this leading growth. Alaska remains the best performing state year-over-year, due, in part, to a surge in oil and military related postings. Overall, 45 U.S. states and the District of Columbia saw online job availability climb by varying degrees in August.

To obtain a full copy of the Monster Employment Index report for August 2006, including all charts and tables, please visit the link below.

Data for the month of September 2006 will be released on October 5, 2006.