Monster Employment Index Declines Sharply in July

Fewer Opportunities in Transportation and Warehousing, Likely Due to Soaring Fuel Costs

Reduced Online Job Availability for Management Occupations
Helps Drives Index Lower

Eight of Nine U.S. Census Bureau Regions See Lower Online Job Demand

July 2006 Index Highlights:
Index drops six points to 165 in July, showing similar seasonal retraction observed in July 2005 and July 2004

Online opportunities in transportation and warehousing fall amid higher fuel prices

Findings show lower demand for executives, managers and consultants following strong surge in June

Military-related and protective service occupations register second consecutive month of upward growth

Online job availability for healthcare practitioners and technical occupations sees biggest surge in two years as demand for registered and licensed practical nurses mounts

Following two months of strong growth, the Monster Employment Index declined sharply in July, falling six points to a level of 165 and reflecting a seasonal slowdown in online recruitment activity typically seen in the middle of summer. The pull-back last month is similar to dips in the Index registered in July 2005 and July 2004. Nevertheless, after a mostly upward growth trend through the first six months of 2006, the Index remains 31 points (23 percent) higher year over year.

Lower demand for workers in the transportation and warehousing industry, as well as management occupations, was the main driver behind the Indexís decline. In contrast, online recruitment for protective service and military-related occupations, as well as healthcare practitioners and healthcare support workers, showed strong to moderate growth in July.

ìThe July 2006 findings of the Monster Employment Index show a significant reduction in online recruitment activity last month, following two months of upward trending. Moreover, last monthís decline, while slightly sharper than previous years, is similar to past summer seasonality recorded in July of 2004 and 2005,î said Steve Pogorzelski, Group President, International at Monster Worldwide. ìWith the U.S. Bureau of Labor Statistics reporting more moderate job creation over the past two months and the U.S. GDP growth rate slowing to 2.5 percent in the second quarter, the Index findings are consistent with these and other economic indicators suggesting that U.S. business expansion is shifting to a more moderate level of growth at the outset of the third quarter.î

Demand for Workers in Agriculture; Transportation and Warehousing Plunges, While Construction Industry Sees Continued Softness
During July, 10 of the 20 industry categories tracked by the Index showed declines of varying degrees, led by sharply lower demand for workers in agriculture, forestry, fishing and hunting, which registered the steepest drop, falling 13 points due to a seasonal lull in hiring. Opportunities in the transportation and warehousing industry also fell, losing 10 points, likely due in part to soaring fuel costs and concerns over geopolitical turmoil in the Middle East. The construction industry also dipped in July, continuing a three-month downward trend amid higher interest rates and growing signs of a cooling U.S. housing market. Retail trade and real estate were also down, shedding three and four points respectively.

In contrast, demand for workers in the finance and insurance industry rose five points, registering the strongest month-to-month rate of increase and indicating increased online job availability in the banking and investment sector. Opportunities for workers at organizations in public administration and the wholesale trade industry also increased, adding four points and three points respectively. Meanwhile, the accommodation and food industry continued a three-month growth trend, edging up two points and showing the strongest year-over-year growth among the 20 industries tracked. Utilities also gained two points, extending a three-month upward trend amid higher demand for workers to support utility grids and ensure an adequate supply of electricity and water to areas of the country experiencing much-warmer-than-normal temperatures.

Sharply Reduced Online Job Availability for Management Occupations Drives Index Lower; While Demand for Military and Protective Service Workers Surges
Fourteen of the 23 occupational categories tracked by the Index showed declines of varying degrees in July, with management occupations registering the steepest drop, sliding 17 points and contributing significantly to the Indexís overall decline.

In contrast, demand for military specific occupations surged for the second consecutive month, jumping 25 points and registering the strongest rate of growth in July among occupations. Opportunities in protective service also increased sharply, rising 11 points and reflecting strong online recruitment efforts by the Armed Forces, the aerospace and defense industry, and public administration organizations seeking security-related workers, such as law enforcement personnel, fire fighters and airport screeners. Online job availability in the healthcare practitioners and technical category jumped nine points ñ the categoryís biggest gain in two years ñ while demand for healthcare support workers rose three points, reflecting nationwide demand for registered nurses and other qualified health services staff.

Eight of Nine U.S. Census Bureau Regions Show Lower Online Recruitment Activity
Online recruitment activity fell by varying degrees in eight of nine U.S. Census Bureau regions in July, with only the West North Central region, which includes Minnesota, Iowa, Kansas, Nebraska, Missouri and the Dakotas, remaining unchanged. The Mid-Atlantic region registered the most substantial dip, while Louisiana remained the fastest growing state year over year. Overall, 40 U.S. states and the District of Columbia showed varying declines in online job availability in July.

To obtain a full copy of the Monster Employment Index report for July 2006, including all charts and tables, please visit www.monsterworldwide.com/Press_Room/MEI.html. Data for the month of August 2006 will be released on September 7, 2006.