NEW YORK, April 6, 2006 - The Monster Employment Index jumped higher in March, continuing a three-month upward growth trend, as a majority of industries, occupations, and all nine U.S. Census Bureau regions registered increased online job availability during the month. The steady, stepwise expansion in online recruitment activity during the first quarter suggests continued employment growth and broad, sustained strength in the U.S. job market. Much of the growth in online demand seen in March was due to widened online job availability for workers in business and professional services.
The Index registered strong growth across all regions of the country during the past month, indicating a solid hiring environment heading into the spring season. A wide range of industries and occupations jumped to higher levels of online recruitment activity during March, including accommodation and food services; construction; legal; computer and mathematical; and building/grounds cleaning and maintenance.
The Index's overall results for the past 13 months are as follows:
Mar. 06 Feb. 06 Jan. 06 Dec. 05 Nov. 05 Oct. 05 Sept. 05 Aug. 05 Jul. 05 Jun. 05 May 05 Apr. 05 Mar. 05
164 157 151 145 149 143 140 142 134 136 134 131 130
"The March results of the Monster Employment Index indicate further positive momentum and increasingly favorable U.S. labor market conditions, as the first quarter of 2006 wraps up showing solid, consistent strength in online job demand," said Steve Pogorzelski, Group President, International at Monster Worldwide. "In response to the flourishing economy, many companies are expanding their business and are looking to hire talented workers to fill new positions. Improved job market conditions have also been driving worker turnover, as employees take advantage of new opportunities and a tighter job market for skilled workers. The hiring outlook continues to bode well for job seekers and for this spring's new crop of college graduates."
Public Administration Industry Sees Largest Increase in Worker Demand in March as Busy Tax Season Heats Up
The public administration industry showed a solid upturn in online demand for workers in March, as well as the strongest three-month improvement of all industries tracked. This is likely due to a number of factors, including a staffing up for the impending tax season, military recruitment, and a strong demand for IT and legal staff in the public sector. Overall, online job demand for workers rose in 16 of 20 industries during March, with strong growth measured in:
" Accommodation and Food Services, which surged in March, as winter came to an end and seasonal tourism experienced stronger gains than have been seen in several years;
" Wholesale trade, which jumped higher for the second consecutive month, continuing strong growth after a post-holiday slump; and
" Construction, which also grew for the second month in a row, but registered a more modest increase in March, potentially due to a leveling out of demand after February's spike.
Online Demand for Business and Financial Occupations Surges in March, Indicating Stepped-up Recruitment of Executive-level Workers
Online demand for business and financial operations workers rose dramatically in March - with especially strong recruitment activity seen in the areas of accounting, auditing and human resources. This is potentially due to continued expansion efforts among U.S. companies and providers of business services following strong business growth seen in recent months. Overall online demand for workers rose in all 23 occupational categories in March, with particularly strong growth noted in the following occupations:
" Building /grounds cleaning and maintenance, which rose sharply during the month, likely due to a seasonal effect, as employer demand for workers in property maintenance, landscaping, and facilities management increased with the onset of spring;
" Legal, which extended a three-month growth trend with a particularly large spike in activity in March; and
" Computer and mathematical, which also increased for the third consecutive month, suggesting continued expansion in technology payrolls in upcoming months.
West South Central Region Registers Sharpest Increase in March, Driven by Booming Metro Areas
For the third consecutive month, online job availability for workers rose in all nine U.S. Census Bureau regions in March, showing continued growth in recruitment activity across the country through the first quarter of 2006. The West South Central region registered the steepest rate of increase during the month, driven by continued demand for workers in the Gulf Coast area to aid reconstruction efforts. Online job availability in Texas has also seen a three-month growth trend, adding to the online hiring surge in the region. Fifty U.S. states and the District of Columbia saw higher employed demand during March, with Washington, D.C., Vermont, Nebraska and Colorado among those registering the greatest gains.
To obtain a full copy of the Monster Employment Index report for March 2006, including all charts and tables, please visit http://www.monsterworldwide.com/Press_Room/MEI.html. Data for the month of April 2006 will be released on May 4, 2006.
About the Monster Employment Index
Launched in April 2004 with data collected since October 2003, the Monster Employment Index is a broad and comprehensive monthly analysis of U.S. online job demand conducted by Monster Worldwide, Inc. (NASDAQ: MNST), the parent company of the leading global online careers and recruitment resource, Monster ®. Based on a real-time review of millions of employer job opportunities culled from more than 1,500 Web sites, including a variety of corporate career sites, job boards and Monster, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. All of the data and findings in the Monster Employment Index have been validated for their accuracy through independent, third party auditing conducted on a monthly basis by ARC Research, a Cranford, New Jersey-based provider of innovative click and brick market research solutions. The audit validates the accuracy of the online job recruitment activity measured within a margin of error of +/- 1.05%.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster ®, the leading global online careers property. The company also owns TMP Worldwide, one of the world's largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,600 employees in 25 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and NASDAQ 100. More information about Monster Worldwide is available at www.monsterworldwide.com.
About Monster
Monster ® is the leading global online careers property. A division of Monster Worldwide, Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 26 local language and content sites in 24 countries worldwide. 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.
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david.rosa[at]monsterworldwide.com
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Weber Shandwick
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