During December, nearly all of the 20 industries and 23 occupational categories tracked by the Index registered lower online job availability compared to the previous month. Two industry categories remained unchanged and two occupations edged up slightly. As a result of the December findings, the Index's year-over-year growth eased further to a modest two points, or one percent.
"Approximately half of the Index's decline in December 2007 can be attributed to seasonality as employers naturally scale back their hiring activities during the final month of the year," said Steve Pogorzelski, Executive Vice President, Global Sales and Customer Development at Monster Worldwide. "The Index has consistently shown a seasonal slowdown every December since its inception, which is usually followed by a sizable rebound in the months that immediately follow. The modest rise in January 2007 was the only exception, so it will be interesting to see the Index's January 2008 results when they are released next month."
Public Administration and Agriculture, Forestry, Fishing and Hunting Industries Remain Flat in December as all other Industry Categories Decline
During the month, only two industries - public administration; and agriculture, forestry, fishing and hunting - bucked the downward trend and remained unchanged from November. Key industries that registered significant declines on the month include administrative, support and waste management, which fell 22 points to its lowest level since March 2004; retail trade, which dropped 20 points, and wholesale trade, which exhibited a more moderate dip, falling eight points, but remains 18 points, or 13 percent, improved over the year.
Meanwhile, the financial sector also continued to show signs of a weaker job market in the wake of the subprime mortgage fallout. Online job availability for the finance and insurance industry declined 14 points, to its lowest level since May 2005. The category is now down eight points, or six percent, year-over-year.
Farming, Fishing and Forestry; and Military Specific Occupations Edge Up in December, while all other Occupational Categories Show Seasonal Slowdown
During December, farming, fishing and forestry; and military specific were the only occupational categories to register increases in online job demand, rising two points and one point, respectively. Meanwhile, the office and administrative support category shed 18 points, and is now down eight points from a year ago. Demand for sales and related occupations also dipped sharply, falling 14 points to the category's lowest level since December 2005, indicating retailers are hiring more cautiously following an uncertain holiday shopping season.
At the same time, the subprime mortgage fallout continued to impact job opportunities in the financial sector, as business and financial operations occupations also dropped significantly on the month, falling 18 points. The category is now down eight points over the year. The healthcare support category registered a small dip in online opportunities, edging down three points, and remains the Index's top growth occupational class year-over-year, with healthcare practitioners and technical following closely behind.
Online Job Availability Declines in all Nine U.S. Census Bureau Regions in December
Similar to the Index results of December 2006; all nine U.S. Census Bureau regions saw reduced online job availability last month. The South Atlantic region showed the mildest decline on the month; however most of the regions were down by similar percentages. Meanwhile, six of the regions were still showing year-over-year growth in online job availability, with West South Central showing the highest annual growth rate. The Pacific, South Atlantic and Mountain regions all reported reduced demand from a year ago as California, Florida and Arizona remained among the states showing the sharpest declines year-over-year, likely due to the slumping housing markets and above-average exposure to the troubled mortgage lending sector.
Online Job Availability Declines in all 28 Major U.S. Metro Markets in December
During the month, all of the top 28 U.S. metropolitan areas tracked by the Index registered lower online job availability, with Portland, Chicago and Sacramento exhibiting the sharpest declines between November and December due to reduced demand across a broad range of industry sectors. More moderate declines were seen in Houston, Denver and Tampa, as sharply increased demand for life, physical, and social science occupations in all of these markets offset declines in other occupational categories.
On a year-over-year basis, 17 markets are showing higher online job demand, with St. Louis and Pittsburgh continuing to report the highest annual rate of increase. St. Louis has exhibited a sharp rise in online opportunities for office and administrative support occupations while Pittsburgh's growth has been largely fueled by surging demand across blue-collar occupations. Meanwhile, Baltimore, Orlando and San Diego are showing the steepest declines from a year ago.
