During March, a majority of industry and occupational categories tracked showed greater online job demand compared to the previous month, with 16 of 20 industries and 15 of 23 occupations registering gains.
"The Monster Employment Index's slight increase in March was below historical levels for this time of year, and reflects a continued slowdown in overall employer recruitment activity," said Jesse Harriott, Vice President of Research at Monster Worldwide. "This month's results also underscore the adverse effect the sub-prime mortgage industry fallout has had on hiring efforts in the financial services sector, particularly in the Northeast region of the country. Nevertheless, the Index is still above its reading in March of 2006 and online job demand remains strong in certain sectors such as healthcare and government."
Online Demand in Arts, Entertainment and Recreation Industry Surges, while Opportunities in Finance and Insurance Decline Sharply
Arts, entertainment and recreation registered one of the largest gains in online job demand among industries in March, ending a five-month downward trend. From a seasonal standpoint, March and April have historically been months of heavily increased recruitment activity for both the creative/entertainment industry and its specific occupations. This has typically occurred after a muted winter period, according to historical Index patterns. Online job availability also rose in the transportation and warehousing industry last month; however the category is now showing a year-over-year decline for the first time since the Index's inception. This suggests that the strain of higher fuel costs and the uncertainty around future oil prices may be tempering employer demand in the sector. Other industry categories notching gains last month include information; manufacturing; public administration; and retail trade.
In contrast, the finance and insurance industry experienced the sharpest monthly decline in online opportunities, mirroring continued weakness in the U.S. financial sector.
On a year-over-year basis, three of the Index's industry categories are showing greater online job availability compared to a year ago, with public administration; and agriculture, forestry, fishing and hunting continuing to rank as the top two growth categories, respectively. At the opposite end of the spectrum, the arts, entertainment and recreation industry has experienced the steepest year-over-year reduction, despite the gain last month.
Demand for Legal and Protective Service Occupations Continues to Slow, While Healthcare Opportunities Remain Elevatedb
During March, the healthcare practitioners and technical category registered the most substantial increase in online job demand among all occupations tracked. Meanwhile, opportunities for workers in the areas of computer and mathematical (IT) and life, physical and social science rose for the second consecutive month for the first time in more than a year.
In contrast, online job availability for management occupations declined sharply, reversing a sizable gain in the previous month, while online offers for positions in business and financial operations also contracted on the month. Demand for legal occupations edged down slightly, suggesting that weak employment trends for new law school graduates may persist. At the same time, opportunities for protective service occupations were flat, halting a four-month downward trend.
On a year-over-year basis, four of the Index's occupational categories are currently showing greater online job availability. After farming, fishing and forestry, the healthcare support and healthcare practitioner categories remain the Index's top growth occupations over the last 12 months. At the other end of the spectrum, the protective service category is down 41 percent from a year ago, and only the legal and personal care categories have exhibited weaker trends.
Online Job Availability Rises in Eight of Nine U.S. Census Bureau Regions in March
During March, online job availability increased in eight of the nine U.S. Census Bureau regions, with the West South Central region showing the strongest gain, followed closely by the Mountain and East South Central regions. Online demand in the New England region registered the sharpest decline, weighed down largely by the financial services sector. Year-over-year, nearly all nine regions are showing lower online job availability, with only the West South Central showing an increase.
At the state level, online job demand rose in 31 of the 50 U.S. states plus the District of Columbia between February and March.
Online Job Availability Rises in 10 of the Top 28 Major U.S. Metro Markets
During March, online recruitment activity rose in 10 of the 28 U.S. metro areas monitored by the Index, with Portland showing the largest increase, fueled by higher demand for healthcare and public service professionals. Seattle was the second strongest market on the month, followed by Pittsburgh, Detroit and Cleveland. Meanwhile, Boston and San Francisco registered the sharpest declines, reflecting lower online recruitment activity for white-collar occupations.
On an annual basis, six of the 28 markets are now showing greater online job availability compared to a year ago, with Pittsburgh ranking as the top growth market year-over-year for the second consecutive month. Houston and Dallas remained among the top five amid continued high demand for healthcare, military and management occupations. In contrast, Los Angeles has registered the steepest drop over the past 12 months, burdened by fewer opportunities in construction.
