Monster WorldWide Inc. (MWW) announced that the Monster Employment Index rose by ten points in February, as employers resumed their hiring activity after last month’s seasonal lull.
This index observes online job demand on a monthly basis and on a year-over-year basis. The index was up 2% year-over-year for the first time since December 2007. This signifies some improvement in the underlying demand for labor.
Headquartered in New York, Monster Worldwide, Inc. is an online recruitment firm of the parent company Monster.com, the leading career website in the world. The company is also the largest advertising agency network for worldwide recruitment, and provides direct marketing services.
Management stated that a part of the increase in the February Index can be attributed to seasonality, a rise in hiring in sectors like manufacturing, transportation and wholesale trade which indicates increased investment and business activity. Companies are expected to begin hiring soon.
In February, online hiring demand grew in 19 of the 23 occupational categories monitored by the Index. Architecture and engineering; life, physical, and social sciences; computer and mathematical; and legal posted large monthly gains, which were reflected by the rise in the professional, scientific, and technical services industry as a whole. Business and financial operations also grew.
However, online demand for occupations related to education, protective service and farming dipped in February.
Monster earns a significant portion of its revenues from recruitment advertising. Many of the key industry verticals of financial services, retail, manufacturing and construction served by Monster were severely affected by the slowdown in the global economy. However, most companies expect a recovery in 2010 which is expected to drive recruitment.
Read the full analyst report on “MWW”
Zacks Investment Research
