Monster Employment Index Rises Sharply in August

The Monster Employment Index rose in August, seeing its highest monthly rate of improvement in four years, as a majority of industries, occupations, and regions registered increased online job availability following the slow summer hiring activity. The Index’s annual rate of decline continued to moderate, indicating some signs of improvement in underlying demand for labor nationwide.

August 2009 Index Highlights:

• Index rises 7 points, or 6%, the highest monthly rate of increase since August 2005
• Year-over-year decline eases to 24%, the most moderate pace of slowdown so far this year
• Retail, administrative and financial industries demonstrate solid growth
• Arts, design, entertainment, sports and media rise among occupations, whereas healthcare, community and personal care and services show softening demand
• New England leads all regions while Portland, OR sees the highest rise on the month amongst the metro markets

“The significant jump in the Monster Employment Index in August offers encouraging signs of improvement in the US economy with the demand for managers and professionals as well as sales and office workers picking up in time for the fall hiring season,” said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. “The Index is now at its highest since February while showing the most moderate yearly rate of contraction since December 2008.”