Twelve of 28 U.S. Metro Markets Rise to Record Highs in November, According to the Monster Local Employment Index
NEW YORK Dec. 15, 2005--Monster Worldwide, Inc. (NASDAQ: MNST):
-- Eleven Other Markets Remain Flat, but Still at Highest Levels, Demonstrating Continued Strength in Local Online Recruitment Activity
-- Broad Demand for Military, Protective Service, Engineering, IT, Legal, and Production Workers Drives Online Hiring Growth in November
-- Houston Registers Largest Rate of Increase, Reflecting Intensified Reconstruction Efforts; Minneapolis Extends Six-Month Upward Growth Trend
Online recruitment activity and related employment opportunities increased in 12 of the top 28 U.S. metropolitan areas in November, according to the latest findings of the Monster Local Employment Index. Houston and Phoenix saw the greatest rate of increase in online hiring activity during the month, while Minneapolis continued a six-month upward growth trend in online job demand. Eleven other markets remained unchanged from their record highs in October, demonstrating ample online job availability, driven by continued strong demand for workers in the military, protective service, engineering, IT, legal, and manufacturing areas.
Online job availability for military-related occupations rose in 24 local markets during November, indicating higher demand for workers in the aerospace and defense industries, and stepped up online recruitment activity by the U.S. Armed Forces, as the Department of Defense now aims to sign up 180,000 new recruits a year. Online opportunities for protective service workers also increased, reflecting higher demand for workers in homeland security functions (airports, ports, and nuclear power plants), greater investments in IT/network security and seasonal hiring of additional security personnel around holiday events.
Eighteen of 28 markets registered significantly higher online recruitment activity in the manufacturing sector during the month, reflecting further improved conditions in the sector overall despite continued weakness in the automotive industry. Demand for production workers soared in a number of metro areas, rising five points or more in Houston, Baltimore, Dallas, Indianapolis, Phoenix and Sacramento. Online opportunities for engineering and IT professionals also continued an upward growth trend across most markets, indicating a steadily improving hiring outlook for workers with strong technical skills, and a continued up-tick in investment within the aerospace/defense and IT/computing sectors.
Of the 28 markets, Houston and Phoenix registered the sharpest increases in online job demand in November, each rising three points, while Baltimore, Los Angeles and Orlando added two points during the month. Seven markets edged up one point, including Minneapolis, which extended a six-month growth trend, and is now the only market that has grown every month since the inception of the Index. Eleven markets remained unchanged during the month, but held steady at high levels of online hiring activity, while five markets saw slight to moderate declines. Atlanta, Boston, Portland and Washington, D.C. each dipped one point, while Miami fell two points.
"The November findings of the Monster Local Employment Index show continued strength in online recruitment activity across the majority of U.S. major metro markets, with encouraging demand for workers in industries, such as IT and manufacturing, that are key barometers for the health of the U.S. economy," said Steve Pogorzelski, Group President, International at Monster Worldwide. "Compared to the sharp gains registered in October, the flatness in eleven markets points to what is likely a relatively mild end-of-year slowdown, as employers wrapped-up their temporary, holiday-related hiring. Nevertheless, most markets remained at their highest levels to date. Encouraging increases in Houston and Dallas suggest a strengthening Texas labor market as reconstruction efforts along the Gulf Coast intensify."
During November, online job demand rose sharply in the Houston metro area, reflecting higher demand for workers involved in the post-hurricane relief and reconstruction efforts, the area's booming energy sector and improvements in the southeastern Texas economy. Phoenix remained the fastest-growing metro area, having jumped 12 points over the past six months on high demand for sales; office and administration; IT and engineering occupations. Online job availability in Baltimore, Los Angeles and Orlando all showed solid increases, suggesting strengthened demand for workers, while Minneapolis edged higher for the sixth consecutive month driven by a greater number of online opportunities in management, construction and military occupations. Miami saw the sharpest decline during the month, dipping two points possibly due to the adverse impacts of the recent hurricane season.
Overall results for the top 28 U.S. metro markets over the past seven months are as follows:
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Market NOV 05 OCT 05 SEPT 05 AUG 05 JUL 05 JUN 05 MAY 05
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Atlanta 105 106 104 103 101 100 100
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Baltimore 107 105 103 101 100 101 99
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Boston 104 105 104 101 100 100 100
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Chicago 104 104 102 100 99 99 101
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Cincinnati 106 106 106 104 102 101 99
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Cleveland 101 101 103 102 99 100 100
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Dallas 104 103 100 100 99 100 100
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Denver 108 107 106 104 101 102 98
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Detroit 108 108 107 103 104 101 99
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Houston 105 102 100 100 100 100 100
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Indianapolis 104 104 101 100 98 99 101
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Kansas City 103 103 102 101 101 100 100
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Los Angeles 107 105 103 102 100 101 99
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Miami 101 103 103 101 98 102 98
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Minneapolis 109 108 107 106 102 101 99
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New York City 104 103 102 102 99 100 100
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Orlando 100 98 100 100 99 104 96
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Philadelphia 104 104 102 101 100 101 99
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Phoenix 112 109 106 104 101 100 100
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Pittsburgh 107 106 104 103 101 100 100
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Portland 106 107 104 103 100 100 100
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Sacramento 105 104 101 101 99 101 99
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San Diego 109 108 106 104 100 101 99
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San Francisco 105 105 103 102 100 101 99
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Seattle 108 108 107 106 102 101 99
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St. Louis 104 104 102 101 100 100 100
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Tampa 105 105 102 102 99 100 100
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Washington, D.C. 104 105 103 102 102 101 99
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The December 2005 results of the Monster Local Employment Index will be released on January 23, 2006.
About the Monster Local Employment Index
Providing a broad, comprehensive monthly analysis of online job demand in the top 28 U.S. metro markets, the Monster Local Employment Index is an extension of the national Monster Employment Index, which is compiled each month by researchers at Monster Worldwide, Inc. (NASDAQ: MNST), parent company of the leading global online career and recruitment resource, Monster(R). Based on a real-time review of millions of employer job opportunities culled from more than 1,500 Web sites, including Monster(R), the Monster Local Employment Index presents a snapshot of employer online recruitment activity in the top 28 U.S. markets with the largest working populations.
The Index counts job postings as an indicator of employer demand for employees or, in other words, job availability. Job postings are online advertisements placed by an employer looking to fill one or more vacant, or recently created, job positions. All of the data and findings have been validated for accuracy through independent, monthly third party auditing conducted by ARC Research of Cranford, New Jersey. Individual Index reports containing September data for each of the 28 metro markets, as well as additional information on occupational demand in each area, are now available at http://LocaleIndex.monsterworldwide.com.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers and recruitment resource. The company also owns TMP Worldwide, one of the world's largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,800 employees in 26 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index. More information about Monster Worldwide is available at www.monsterworldwide.com.
About Monster
Monster(R) is the leading global online careers and recruitment resource. A division of Monster Worldwide, Monster was founded in 1994 and is headquartered in Maynard, Massachusetts, USA. Monster has 26 local language and content sites in 24 countries worldwide. Monster is known for connecting quality job seekers at all levels with leading employers across all industries and offers employers innovative technology and superior services that give them more control over the recruiting process. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://recruiter.monster.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 and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
