— Banking, Finance and Insurance Bounces Back —
London, November 13, 2007 – Online hiring activity dropped in the UK in October 2007 for the second consecutive month as the Monster Employment Index declined by two points. The Index dropped to a level of 160 points, due mainly to a significant decline in online demand in the sales sector. There were also notable decreases in opportunities for craft and related workers; and legislators, senior officials and managers. Overall, the Index is up by 35 points, or 28 per cent, compared to last October. The Monster Employment Index UK is a monthly analysis of millions of online job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster.co.uk.
“Most industries in the UK saw substantial growth in October despite online job opportunities falling for the second month in succession,” said Andrea Bertone, Regional Director, Monster Worldwide Europe. “However, the decline in the October Index suggests some moderation in labour demand at the onset of the fourth quarter.”
Monster Employment Index UK results over the past 14 months are as follows:
Oct
07 Sept 07 Aug 07 Jul 07 Jun 07 May 07 Apr 07 Mar 07 Feb 07 Jan 07 Dec 06 Nov 06 Oct 06 Sep 06
160 162 167 165 170 162 141 150 140 121 129 128 127 125
Sales Sector Experiences Sharp Decline in Demand
A dip in the sales sector was largely responsible for the decline in the October Monster Employment Index. Demand in this industry dropped by 37 points following steady growth in August and September. A fall in opportunities for professionals was the main contributor to the decrease. By contrast, demand for service workers and shop and market sales workers within this sector grew in October. All UK regions saw a decrease in sales opportunities, with London and East Anglia seeing the largest decrease.
A decrease in the arts, entertainment, sports and leisure industry was also a key factor in the Index’s dip in October, dropping 17 Index points. The South East saw the most notable regional drop.
Banking, finance and insurance recovered from three months of considerable decline, increasing by 28 Index points in October. This recovery was driven by increased demand for professionals; and technicians and associate professionals. Northern Ireland and the Midlands experienced the highest growth in this sector. Online opportunities in education, training and library also experienced significant growth in October.
“It is highly encouraging to see the banking, finance and insurance industry bounce back so strongly from the decline it has suffered recently. This growth may be due to the implementation of the MiFID directive in the UK and the recruitment of staff to handle additional reporting requirements,” added Bertone.
Industry Oct
07 Sept 07 Aug 07 Jul 07 Jun 07 May 07 Apr 07 Mar 07 Feb 07 Jan 07 Dec 06 Nov 06 Oct 06 Sep 06
Accounting, Audit, Taxes 113 119 123 121 122 121 106 129 124 125 125 120 112 116
Administrative, Organization 204 188 195 181 209 205 184 196 179 134 148 148 137 135
Arts, Entertainment, Sports, Leisure 163 180 172 137 131 135 132 161 137 124 121 118 130 138
Banking, finance, insurance 177 149 158 173 210 193 187 202 182 146 157 153 148 143
Construction and Extraction 163 147 153 146 141 146 138 138 134 124 129 125 124 124
Education, Training and Library 166 141 139 152 143 142 130 129 128 105 114 115 110 103
Engineering 161 153 165 160 147 149 141 142 137 123 131 129 127 126
Environment, Architecture and Urbanism 203 163 175 169 155 157 164 157 148 118 137 129 129 127
Healthcare, Social work 182 177 183 182 171 184 162 149 156 121 133 150 133 127
Hospitality and Tourism 144 134 131 141 140 151 112 139 113 117 113 122 105 106
HR 189 193 200 187 183 199 195 194 182 157 150 152 138 145
IT 114 117 124 132 125 124 108 118 114 105 108 109 105 112
Legal 185 186 195 201 248 215 195 248 217 181 201 210 197 200
Management and Consulting 178 186 185 177 198 163 156 157 154 130 145 136 139 141
Marketing, PR and Media 185 178 185 181 186 175 171 177 154 124 140 140 136 135
Production, Manufacturing, Maintenance, Repair 107 112 114 113 106 105 98 99 97 99 99 100 99 97
Public Sector, Defense, Community 102 100 99 101 96 102 97 98 99 98 96 95 105 106
Research and Development 134 145 142 129 141 129 123 129 125 96 108 110 99 100
Sales 136 173 171 170 179 158 119 123 117 107 113 113 122 109
Telecommunication 122 116 119 119 123 125 117 120 122 101 113 120 104 114
Transport, Post and Logistics 139 143 142 133 127 129 118 115 110 98 102 108 110 107
Index Reports A Fall In Online Demand For Craft and Related Workers and Legislators, Senior Officials and Managers
For the second month in a row, online opportunities for craft and related workers fell, with October seeing a drop of 40 Index points. The most significant decline in demand was in production, manufacturing, maintenance and repair. Northern Ireland and the South West declined furthest as all UK regions saw a drop in hiring.
Demand for legislators, senior officials and managers dropped 25 Index points as a direct result of the decrease in the sales sector, having grown moderately for the previous two months. East Anglia and the South East saw the biggest drops.
Although demand for most occupations dropped in the UK in October, hiring of plant and machine operators and assemblers grew significantly, led by an increase in opportunities in construction and extraction. Technicians and associate professionals; and service workers and shop and market sales workers also saw higher online demand.
Occupation Group Oct
07 Sept 07 Aug 07 Jul 07 Jun 07 May 07 Apr 07 Mar 07 Feb 07 Jan 07 Dec 06 Nov 06 Oct 06 Sep 06
Legislators, senior officials and managers 142 167 166 164 168 148 115 120 110 101 107 107 118 107
Professionals 165 168 174 178 180 170 148 161 152 131 139 138 132 133
Technicians and associate professionals 153 144 151 150 164 161 150 160 149 126 135 132 131 127
Clerks 148 157 157 137 136 147 129 129 124 106 111 116 114 113
Service workers and shop and market sales workers 143 138 140 143 142 159 121 141 119 120 126 131 116 110
Skilled agricultural and fishery workers 153 158 137 141 147 165 154 126 130 114 106 114 131 105
Craft and related workers 257 297 299 272 246 245 225 213 218 176 184 168 133 137
Plant and machine operators and assemblers 129 114 113 115 112 115 114 114 115 111 107 109 108 106
Elementary occupations 88 87 87 87 101 116 113 116 110 111 119 140 124 116
Online Recruitment Drops Across the Majority of UK Regions
Of all UK regions, only the Midlands reported an increase in online job demand in October, largely due to an upturn in opportunities in banking, finance and insurance and growth in education, training and library. Of the occupational groups, plant and machine operators and assemblers experienced the highest growth in the Midlands.
For the second successive month, the South West experienced the biggest downturn, dropping by 16 points. Decline in the research and development; and production, manufacturing, maintenance, repair sectors was the major contributor to this decrease. Craft and related workers was the occupation that dipped furthest. Scotland went down 10 points in October, due in part to a decrease in agriculture, fishing and forestry. In line with this decline, demand for skilled agricultural and fishery workers also fell significantly. Demand for service workers and shop and market sales workers dropped in line with a downturn in opportunities in hospitality and tourism in Scotland. Fewer opportunities in sales led to a drop in online hiring in East Anglia for the third month in a row.
Region Oct 07 Sept 07 Aug 07 Jul 07 Jun 07 May 07 Apr 07 Mar 07 Feb 07 Jan 07 Dec 06 Nov 06 Oct 06 Sep 06
Midlands 172 170 176 171 168 170 151 162 157 126 136 138 143 134
North England 171 172 178 168 176 177 156 164 156 148 145 143 144 136
London 140 142 145 144 150 142 131 139 133 115 126 125 124 123
South East 127 127 128 129 135 129 119 123 119 110 116 116 114 114
South West 250 266 281 266 221 226 180 179 163 131 150 151 145 142
Wales 209 213 220 211 216 211 172 178 173 177 166 165 156 155
Scotland 146 156 161 162 150 153 135 141 122 162 114 114 113 110
Monster Employment Index UK data for October will be released on December 11, 2007.
About The Monster Employment Index UK
Providing a broad, comprehensive monthly analysis of online job demand, the Monster Employment Index UK is an extension of the Monster Employment Index Europe, which is compiled each month by researchers at Monster Worldwide Europe.
Launched in June 2005, the Monster Employment Index Europe is a monthly insight into recruitment trends across the European Union. The Index report is based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster®. The Index is audited by Research America, Inc. and provides analyses of online job demand within occupational categories, industry sectors and regions.
There are also monthly Index reports for France, Germany, Netherlands and Sweden which include occupational, industry and regional analyses.
These, as well as the European Index are available at:
http://www.monsterworldwide.com/Press_Room/MEI_EU.asp About Monster Worldwide
Monster Worldwide, Inc. (NASDAQ: MNST), parent company of Monster®, the premier global online employment solution for more than a decade, strives to bring people together to advance their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 Index and the NASDAQ 100. To learn more about Monster's industry-leading products and services, visit
www.monster.com. More information about Monster Worldwide is available at
www.monsterworldwide.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, may 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/A and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
