Monster Employment Index Declines Sharply in October

The Monster Employment Index dropped ten points in October, as a majority of industries and occupations registered fewer online job opportunities and overall U.S. online job availability fell to its lowest level since 2005. Year-over-year, the Index is now down 20 percent, reflecting continued deceleration in online recruitment activity at the outset of the fourth quarter.

The Monster Employment Index is a monthly gauge of U.S. online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of corporate career Web sites and job boards, including Monster®.

During October, online job availability rose in three of the Index’s 20 industry categories and in one of the 23 occupational categories measured. Index results for the past 13 months are as follows:

"The sharp decline in the Monster Employment Index in October suggests that U.S. businesses are scaling back their recruitment efforts due to uncertainty surrounding the global financial crisis and current economic conditions," said Jesse Harriott, Vice President of Research at Monster Worldwide. "However, there are still pockets of elevated demand for workers in areas such as mining, healthcare and government, where online job opportunities remain above levels seen at this time last year."

Public Administration; Mining and Utility Industries Extend Growth Trends in October

The utilities industry registered the highest rate of increase in online job availability in October, likely a result of the approaching winter season. Meanwhile, online opportunities in the mining industry increased for the fourth consecutive month, reflecting the continued expansion of oil and gas exploration activity across the county. The public administration industry also registered stepped-up online demand, edging higher for the fourth consecutive month and suggesting that the government sector is still producing job opportunities at a solid pace.

In contrast, the retail trade industry experienced a sharp drop in online recruitment activity in October, offsetting gains during the previous two months and suggesting that employers have grown cautious amid waning consumer confidence and lowered expectations for the upcoming holiday season. Accommodation and food services; and arts, entertainment and recreation, two other industries historically sensitive to consumer spending, also registered a steep decline in online job demand during the month, while the real estate and rental and leasing; and finance and insurance categories showed further weakness, too.

On a year-over-year basis, public administration remains the Index’s fastest growing industry category, followed by mining – the only other industry category showing an increase in demand over the year.

Online Job Opportunities in Protective Service Expand in October

Protective service was the only occupational category to show growth in online job availability in October. However, over the year, the category is down three percent, suggesting gradually reduced hiring among law enforcement, fire, and other public protective service agencies compared to last year.

In contrast, personal care and service occupations saw the largest drop in online demand during the month, followed closely by legal; and sales and related occupations. Healthcare practitioners and technical also declined in October, falling for the second consecutive month after strong growth during the first eight months of the year.

On a year-over-year basis, farming, fishing and forestry remained the Index’s top rated occupational growth category for the sixth consecutive month. Opportunities for healthcare practitioners and technical occupations are also greater than a year ago, indicating sustained high demand for skilled healthcare workers.

Online Job Availability Falls in All Nine U.S. Census Bureau Regions in October

Online job demand fell in all nine U.S. Census Bureau regions in October, and all nine are down year-over-year, with the West South Central and East South Central regions registering below-average annual contractions.

At the state level, online job demand fell in 48 of the 50 U.S. states plus the District of Columbia during October.

Online Job Demand Dips across Top 28 Major U.S. Metro Markets

During October, online recruitment activity decreased in all of the 28 U.S. metro areas monitored by the Index. Houston, a boom market for jobseekers as recently as this summer, registered the steepest drop in offerings in October among all major metro areas. Meanwhile, online recruitment continued to trend lower in Los Angeles, the largest job market outside of New York City. Detroit also noted a sharp decline on the month, although downward trends among production and transportation; and material moving could be expected given recent layoff announcements in the area’s auto manufacturing industry.

On an annual basis, Pittsburgh remains the Index’s top growth market year-over-year following a marginal decline in October and is the only market to register annual growth, while Orlando is still the worst performing.

To obtain a full copy of the Monster Employment Index report for October 2008, and access current individual data charts for each of the 28 metro markets tracked, please visit http://corporate.monster.com/Press_Room/MEI.html. Data for the month of November 2008 will be released on December 4, 2008.

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. 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, including 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 Research America, Inc. The audit validates the accuracy of the online job recruitment activity measured within a margin of error of +/- 1.05%.

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 inspire people to improve 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.

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