Monster Take on Talent: May Hiring Trends Weather the Storm
By: Connie Blaszczyk, Managing Editor, Monster Resource Center
The month of May ended with the start of National Hurricane Preparedness Week, just in time for the arrival of Tropical Storm Beryl.
Meanwhile, the month saw slow but steady recruitment growth, with the Monster Employment Index U.S. (MEI) showing a 3 percent year-over-year uptick, rising 1 percent month-over-month.
The MEI is a monthly gauge of U.S. online job posting activity based on a real-time review of millions of employer job opportunities, culled from a wide representative selection of career Web sites and online job listings.
“Employers rounded out the muted spring recruitment season with a relatively strong May,” commented Jonathan Der, Senior Economist for Monster Worldwide. “Looking at the longer-term trends suggests we’ve entered a phase of slower expansion; however hiring continues at elevated rates across a number of key sectors.”
Most Industries Show Growth
Amidst the sluggish economic pace there was positive news, with 13 of the 20 industries monitored by the MEI seeing year-over-year growth.
Transportation and warehousing led the way with a 27 percent increase, mirroring recent trends seen in the Bureau of Labor Statistics’ payrolls reports. These sectors maintained their top growth position despite reduced online demand for passenger ground transit and sightseeing jobs.
Related to this trend, occupational growth in architecture and engineering was up 13 percent year-over-year, driven by demand from the manufacturing sector, finance/insurance, construction and consulting services.
In other industry sectors, finance and insurance registered the largest month-over-month growth at nine percent, suggesting some momentum gains for service and sales.
Meanwhile, continued high demand for computer specialists drove an 8 percent increase in the information sector.
In contrast to the springtime escalation typically seen at this time of year, retail trade recruitment stalled somewhat, as indicated by a decelerated annual growth rate of 4 percent.
Geographic Year-Over-Year Trends
While all 28 metro markets of the MEI recorded positive annual growth, three markets in particular led the way in year-over-year trends in May.
Indianapolis (up 18 percent) continued to lead all metro markets in annual growth, driven by an upswing in demand for transportation and material moving, as well as favorable demand for business/financial operations, computer and mathematical, and architecture and engineering occupations.
Detroit (up 17 percent) was one of the most notable risers in the Index rankings with production and transportation categories exhibiting strong momentum gains. From the professional segment, momentum gains were notable in management, business and financial operations, architecture and engineering and legal.
Chicago, in contrast, registered a further slowdown (up 9 percent) year-over-year, with ongoing weakness in recruitment trends for production, legal, healthcare and office/administrative occupations.
International Hiring Trends
Despite the ongoing turmoil of the Euro crisis, the Monster Employment Index Europe demonstrated year-over-year growth of six percent in May, matching the rate of annual growth recorded in April.
Germany retained an annual growth of 19 percent for the second consecutive month; the Netherlands continued to chart the greatest decline in online hiring activity compared to previous year levels (down 21 percent.) Substantial growth in environment, architecture and urbanism (building design, urban design and environmental issues) contrasted with steep annual declines in the public sector.
In Asia, the Monster Employment Index India recorded a four percent increase year-over-year in April. NGO/Social Services saw the highest growth, while healthcare, biotech and life sciences also recorded strong annual growth. Demand for arts/creative occupations exhibited the highest annual gain, followed by senior management.
The Monster Employment Index U.S. does not reflect the trend of any one advertiser or source, but is an aggregate measure of the change in job listings across the industry.
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