04 Jun, 2010

Year-Over-Year Growth

Index rises one point in May as employers continue to step-up hiring activity. Year-over-year growth rate climbs for the fourth consecutive month, and is now 14 percent (16 points) * Healthcare and social assistance industry sees strongest rise in online job demand in May; management and accommodation/ food services contract * Manufacturing and transportation industry continues 3-month growth trend * Online job demand rises in 15 major metro markets monitored by the Index The Monster Employment Index rose by 1 point in May as a number of industries continued to step-up their online recruitment efforts. The annual growth rate during May was 14 percent (16 points), the highest year-over-year growth rate since April 2007, indicating the demand for labor is strengthening. The Monster Employment Index is a monthly gauge of U.S. online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of corporate career Web sites and job boards, including Monster.com(R). During May, online job availability rose in 12 of the Index’s 20 industry sectors and in 13 of the 23 occupational categories monitored. “The sustained expansion of job opportunities, especially in some large industries is encouraging,” said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. “While some of this increase can be attributed to seasonality, the notable improvement in annual growth rate is the highest since April 2007 and reflects a better job market heading into the summer months compared to this time last year.” Online Demand in Healthcare and Social Assistance Registers Largest Increases in May; Management; and Accommodation Edge Down Online demand rose in 12 and remained flat in 4 of the 20 industries monitored by the Index. Healthcare and social assistance saw the strongest increase in online job availability, edging to its highest level since the mid-2008 period, most likely due to recruitment efforts geared toward students graduating from nursing as well as various healthcare technician and support programs. Arts, entertainment and recreation also edged up in May, continuing its six-month gradual expansion in online job opportunities. However current demand levels are only marginally higher than year-earlier levels suggesting consumer spending trends in this segment might not be strong enough to support broad increases in job creation. Meanwhile, manufacturing held steady while demand for transportation and warehousing workers grew for the fourth consecutive month. This recent relative improvement in both industries, and related occupations, coincides with heightened measures of production and commerce activity. In contrast, real estate; accommodation and food services; management and agriculture edged down in May. On an annual basis, mining; as well as utilities led all industries. Construction also continued its upward trend closely followed by transportation and retail trade. Healthcare Occupations Register Largest Gains in May; Management and Architecture Decline Overall online demand for workers rose in 13 of 23 occupational categories in May, with healthcare practitioners and technical registering the largest gain on a month-over-month basis as reflected by the rise in online recruitment efforts for the healthcare industry as a whole. Apart from the healthcare related occupations, increased demand for white collar workers was generally limited to business and financial operations; and legal occupations. Online job demand for protective service and community and social service occupations also continued to edge up in May. Meanwhile, management; architecture; computer and mathematical; all edged down in May. Arts and design continued to lead all occupational categories in terms of year-over-year growth with a 25 percent annual rise in opportunities closely followed by transportation and warehousing which also continued its uptrend. Legal; and business and financial occupations also reported more online job offerings than a year ago. Online Job Availability Rises in Six of Nine U.S. Census Bureau Regions in May During May, demand rose in six U.S. Census Bureau regions with Mountain registering the largest gain. On an annual basis, Middle Atlantic exhibited the most improvement. West North Central registered the most sluggish expansion in demand among all divisions, however still positive at 8 percent. Among the 50 states and the District, 33 registered increased online job opportunities in May, with notably large gains in West region states like New Mexico, Washington, and Montana. On a year-over-year basis, Washington was one of the most rapidly growing states and currently has one of the highest per capita online job availability rates among all states. Other large states like New York and Pennsylvania also continued to exhibit robust annual growth in the Index. Meanwhile, District of Columbia, Mississippi, and South Dakota recorded negative annual growth. Fifteen of The 28 Major U.S. Metro Markets Monitored By The Index Register Increases in May During May, online recruitment activity rose in 15 major metropolitan markets, with Orlando registering the largest monthly gain. Although current levels of online job demand in this market remain well below the 2005 and 2006 periods, activity has nonetheless improved consistently over the past year. Demand remains thin but has improved over the year for blue-collar occupations like construction. Despite monthly declines, demand has been upbeat for occupations in primarily publicly-funded sectors including education, training, and library; and community and social services. In contrast, Baltimore logged the largest monthly decline where online job availability declined following a steady 3-month rise. The largest declines in May were mainly for white-collar occupations, with the exception of computer and mathematical, which saw demand rise to a six month high. Year-over-year, all 28 markets reported positive growth. Portland continued to exhibit the most substantial gains in online demand on an annual basis, while Cincinnati registered the most acceleration in annual growth rate, from 10 percent in April to 23 percent in May. In contrast, San Diego and Baltimore registered the most sluggish annual growth rate. credit: onrec.com

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