Thursday, May 01, 2008

Monster Employment Index Rises 7 Points in April

The Monster Employment Index added seven points in April, the strongest single month gain in more than 12 months, as online job availability in the U.S. continued to rise for the third consecutive month (see chart above).

Monster Worldwide's VP of Research said "The Index’s three-month growth trend, combined with its slightly improved year-over-year growth rate, is an encouraging sign of stabilization in the U.S. labor market.”

Highlights of the April report include:
  • The financial services sector is showing a degree of stabilization, despite highly publicized layoffs in the banking industry.

  • Online job opportunities continue to expand in Kansas City, Pittsburgh and Houston.

MP: This positive labor market report provides additional support for the view that the U.S. economy is not in recession, and has started to show some signs of recovery.


At 5/01/2008 3:41 PM, Anonymous calvin said...

This claim of job availability stabilizing does not take into account the seasonality. over the full horizon of the index, Job availability rose during the early part of each year, reflecting the non-hiring season of the year end holiday. As a result, the rising of index is not anything special. Looking at the yoy growth, the index remains at negative territory of -6.45%. Hardly claim the slow down is over or stabilizing. other evidence from the unemployment claim or payroll number suggests we are not even close to the end of slow down.

At 5/05/2008 3:17 PM, Anonymous Kevin said...

Does the Monster index mirror the overall job situation?

I thought the majority of Monster listings were white collar positions.

That would tend to downplay job losses among the working class -- where competition from cheap overseas labor hits hardest.


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