"The sharp decline in the Monster Employment Index in October suggests that U.S. businesses are scaling back their recruitment efforts due to uncertainty surrounding the global financial crisis and current economic conditions," said Jesse Harriott, Vice President of Research at Monster Worldwide. "However, there are still pockets of elevated demand for workers in areas such as mining, healthcare and government, where online job opportunities remain above levels seen at this time last year."
October 2008 Index Highlights:
- Index drops 10 points in October, following mild increases in August and September
- Year-on-year, the Index is now down 20 percent, indicating continued deceleration in online recruitment activity at the onset of the fourth quarter
- Real estate, leisure and hospitality and retail trade industries register strongest monthly declines in online job availability, while opportunities in mining and utility industries show continued expansion
- Four-month growth trend in public administration (the Index’s top growth industry year-over-year) suggests that government hiring continues
- Only the protective service occupational category saw increased opportunities in October, while healthcare practitioners and technical remains among the top occupational growth categories year-over-year
- Pittsburgh is the only major metropolitan market showing a year-over-year increase in online recruitment activity
Public Administration; Mining and Utility Industries Extend Growth Trends in October
The utilities industry registered the highest rate of increase in online job availability in October, likely a result of the approaching winter season. Meanwhile, online opportunities in the mining industry increased for the fourth consecutive month, reflecting the continued expansion of oil and gas exploration activity across the county. The public administration industry also registered stepped-up online demand, edging higher for the fourth consecutive month and suggesting that the government sector is still producing job opportunities at a solid pace.
In contrast, the retail trade industry experienced a sharp drop in online recruitment activity in October, offsetting gains during the previous two months and suggesting that employers have grown cautious amid waning consumer confidence and lowered expectations for the upcoming holiday season. Accommodation and food services; and arts, entertainment and recreation, two other industries historically sensitive to consumer spending, also registered a steep decline in online job demand during the month, while the real estate and rental and leasing; and finance and insurance categories showed further weakness, too.
On a year-over-year basis, public administration remains the Index’s fastest growing industry category, followed by mining – the only other industry category showing an increase in demand over the year.
Online Job Opportunities in Protective Service Expand in October
Protective service was the only occupational category to show growth in online job availability in October. However, over the year, the category is down three percent, suggesting gradually reduced hiring among law enforcement, fire, and other public protective service agencies compared to last year.
In contrast, personal care and service occupations saw the largest drop in online demand during the month, followed closely by legal; and sales and related occupations. Healthcare practitioners and technical also declined in October, falling for the second consecutive month after strong growth during the first eight months of the year.
On a year-over-year basis, farming, fishing and forestry remained the Index’s top rated occupational growth category for the sixth consecutive month. Opportunities for healthcare practitioners and technical occupations are also greater than a year ago, indicating sustained high demand for skilled healthcare workers.
Online Job Availability Falls in All Nine U.S. Census Bureau Regions in October
Online job demand fell in all nine U.S. Census Bureau regions in October, and all nine are down year-over-year, with the West South Central and East South Central regions registering below-average annual contractions.
At the state level, online job demand fell in 48 of the 50 U.S. states plus the District of Columbia during October.
Online Job Demand Dips across Top 28 Major U.S. Metro Markets
During October, online recruitment activity decreased in all of the 28 U.S. metro areas monitored by the Index. Houston, a boom market for jobseekers as recently as this summer, registered the steepest drop in offerings in October among all major metro areas. Meanwhile, online recruitment continued to trend lower in Los Angeles, the largest job market outside of New York City. Detroit also noted a sharp decline on the month, although downward trends among production and transportation; and material moving could be expected given recent layoff announcements in the area’s auto manufacturing industry.
On an annual basis, Pittsburgh remains the Index’s top growth market year-over-year following a marginal decline in October and is the only market to register annual growth, while Orlando is still the worst performing.
