Oct. Monster Employment Index Europe Up By 23%

The Monster Employment Index Europe increased by 23% on an annual basis to a level of 122 in October, a strong improvement from the 99 index level last October, and an increase from the 21% gain in September.  There was relatively strong online recruitment activity across most European Union countries, with especially strong growth in Germany (30% growth in October, the largest gain in online recruitment demand since late 2005), Sweden (36% annual gain in hiring activity). By sector, transportation (+50%), manufacturing (+44%), tourism (32%) and automotive (30%) registered the largest annual gains in hiring activity.  

Overall, a very positive report for a steadily improving European labor market that is gaining strength and momentum as the European economies recover. In related news, Reuters reported recently that German unemployment in October fell to its lowest level (2.945 million) in 18 years (since October 1992).