10.24.05
Twenty-Two U.S. Metro Areas Show Higher Online Job Demand in September, Despite Economic Impact of Rising Oil Prices and Hurricane Katrina
Twenty-Two U.S. Metro Areas Show Higher Online Job Demand in September, Despite Economic Impact of Rising Oil Prices and Hurricane Katrina
NEW YORK Oct. 20, 2005 — Monster Worldwide, Inc. (NASDAQ: MNST):
– Detroit and Boston Show Greatest Month-to-Month Increases in Online Job Availability, According to Monster Local Employment Index
– Demand for Computer and Mathematical Positions Surges in 24 of 28 Markets, Suggesting Greater Availability of IT Jobs in Nation’s Largest Metropolitan Areas
– Cincinnati, Minneapolis and Seattle Extend Four-Month Upward Growth Trend
Online job recruitment activity and related employment opportunities increased in 22 of the top 28 U.S. metropolitan areas in September, according to the latest findings of the Monster Local Employment Index. Despite concern over rising oil prices and the initial economic impact of Hurricane Katrina, the majority of markets tracked by the Index registered higher levels of online job availability across a range of occupational categories. Online demand for architecture and engineering; computer and mathematical; and business and financial occupations surged in a majority of the markets, suggesting a greater number of readily available online job opportunities for engineering, IT and financial professionals across major U.S. metropolitan areas.
The Detroit and Boston metro areas saw the sharpest month-to-month increases in online job availability in September, with demand rising four points and three points in those markets respectively. The Cincinnati, Minneapolis and Seattle metro areas also continued to register strong growth, extending four-month growth trends. Since May, online recruitment activity as measured by the Index has grown at the highest pace for Denver, Detroit, Minneapolis and Seattle - all up eight points.
Other metro areas registering solid growth in online job availability during September included Baltimore, Chicago, Miami, Phoenix and San Diego. No markets declined and only Dallas, Houston, New York City, Orlando, Sacramento and Tampa were flat for the month, suggesting that the majority of U.S. metropolitan areas outside the Gulf Coast region have yet to show any significant signs of negative economic impact from Hurricanes Katrina and Rita.
“Surprisingly, the Monster Local Employment Index’s September findings show more robust online job demand at the major metro level than our national Index findings, which showed a slight decline in overall U.S. demand. However, this is likely due to the fact that large cities have higher concentrations of service jobs than the nation in general. In addition, the main impact of Katrina on metro areas not situated in the Gulf region was rising oil prices, which likely hit manufacturers harder than many service providers,” said Steve Pogorzelski, Group President, International at Monster Worldwide. “While large metro areas tend to have a more flexible labor market, and as a result, may adapt to external shocks in a more efficient manner, three of the markets most directly impacted by the hurricanes - Houston, Tampa and Orlando - remained flat for September and were most likely affected by the ripple effects of these devastating storms.”
Online job opportunities for architecture and engineering related occupations rose in 24 of 28 markets in September, with the sharpest rates of growth occurring in Phoenix and San Francisco. Online demand for computer and mathematical related positions also registered strong growth in 24 markets, suggesting that IT jobs are becoming more readily available in major U.S. metro areas. Twenty-two markets saw higher demand for business and financial operation professionals, suggesting that professional services companies are anticipating a busier fourth quarter due to an overall expanding U.S. economy and generally favorable business climate, despite soaring fuel costs. Online job availability for sales and sales-related positions also grew in a majority of the markets, indicating that businesses may be ramping up their business expansion efforts. Online hiring for healthcare workers, in contrast, showed a noticeable slowdown in many markets.
Demand for food preparation and serving also increased across most markets, suggesting increased online job opportunities for workers in the restaurant and hospitality industries, while opportunities for construction-related occupations was mixed across the 28 markets. Construction demand is likely to increase in the months ahead, as opportunities to assist with reconstruction efforts in hurricane-stricken areas attract workers in other cities.
Overall results for the top 28 U.S. metro markets over the past five months are as follows:
---------------------------------------------------------------------- Market SEPT 05 AUG 05 JUL 05 JUN 05 MAY 05 ---------------------------------------------------------------------- Atlanta 104 103 101 100 100 ---------------------------------------------------------------------- Baltimore 103 101 100 101 99 ---------------------------------------------------------------------- Boston 104 101 100 100 100 ---------------------------------------------------------------------- Chicago 102 100 99 99 101 ---------------------------------------------------------------------- Cincinnati 106 104 102 101 99 ---------------------------------------------------------------------- Cleveland 103 102 99 100 100 ---------------------------------------------------------------------- Dallas 100 100 99 100 100 ---------------------------------------------------------------------- Denver 106 104 101 102 98 ---------------------------------------------------------------------- Detroit 107 103 104 101 99 ---------------------------------------------------------------------- Houston 100 100 100 100 100 ---------------------------------------------------------------------- Indianapolis 101 100 98 99 101 ---------------------------------------------------------------------- Kansas City 102 101 101 100 100 ---------------------------------------------------------------------- Los Angeles 103 102 100 101 99 ---------------------------------------------------------------------- Miami 103 101 98 102 98 ---------------------------------------------------------------------- Minneapolis 107 106 102 101 99 ---------------------------------------------------------------------- New York City 102 102 99 100 100 ---------------------------------------------------------------------- Orlando 100 100 99 104 96 ---------------------------------------------------------------------- Philadelphia 102 101 100 101 99 ---------------------------------------------------------------------- Phoenix 106 104 101 100 100 ---------------------------------------------------------------------- Pittsburgh 104 103 101 100 100 ---------------------------------------------------------------------- Portland 104 103 100 100 100 ---------------------------------------------------------------------- Sacramento 101 101 99 101 99 ---------------------------------------------------------------------- San Diego 106 104 100 101 99 ---------------------------------------------------------------------- San Francisco 103 102 100 101 99 ---------------------------------------------------------------------- Seattle 107 106 102 101 99 ---------------------------------------------------------------------- St. Louis 102 101 100 100 100 ---------------------------------------------------------------------- Tampa 102 102 99 100 100 ---------------------------------------------------------------------- Washington, D.C. 103 102 102 101 99 ----------------------------------------------------------------------
The October results of the Monster Local Employment Index will be released on November 21, 2005.
About the Monster Local Employment Index
Providing a broad, comprehensive monthly analysis of online job demand in the top 28 U.S. metro markets, the Monster Local Employment Index is an extension of the national Monster Employment Index, which is compiled each month by researchers at Monster Worldwide, Inc. (NASDAQ: MNST), parent company of the leading global online career and recruitment resource, Monster(R). Based on a real-time review of millions of employer job opportunities culled from more than 1,500 Web sites, including Monster(R), the Monster Local Employment Index presents a snapshot of employer online recruitment activity in the top 28 U.S. markets with the largest working populations.
The Index counts job postings as an indicator of employer demand for employees or, in other words, job availability. Job postings are online advertisements placed by an employer looking to fill one or more vacant, or recently created, job positions. All of the data and findings have been validated for accuracy through independent, monthly third party auditing conducted by ARC Research of Cranford, New Jersey. Individual Index reports containing September data for each of the 28 metro markets, as well as additional information on occupational demand in each area, are now available at http://LocaleIndex.monsterworldwide.com.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers and recruitment resource. The company also owns TMP Worldwide, one of the world’s largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,600 employees in 26 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index. More information about Monster Worldwide is available at www.monsterworldwide.com.
Monster(R) is the leading global online careers and recruitment resource. Monster was founded in 1994 and is headquartered in Maynard, Massachusetts, USA. Monster has 25 local language and content sites in 23 countries worldwide. Monster is known for connecting quality job seekers at all levels with leading employers across all industries and offers employers innovative technology and superior services that give them more control over the recruiting process. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster’s industry-leading employer products and services, please visit http://recruiter.monster.com.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.’s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide’s control, June cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide’s Form 10-K and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.