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Monster Employment Index Rises in March

The Monster Employment Index rose two points in March, as overall U.S. online job availability rose moderately for the second month in a row, but remained down 10% from a year ago. Over the month, a majority of industry and occupational categories tracked show greater online job demand as 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," says Monster Worldwide Vice President of Research, Jesse Harriott. "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… online job demand remains strong in certain sectors such as healthcare and government." Harriott adds. 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. 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, suggesting higher fuel costs and the uncertainty of future oil prices may be tempering employer demand in the sector. Other industry categories registering 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 a continued weakness in the U.S. financial sector.