Monday, June 7, 2010

Monster Employment Index Tells A Different Story

With all the supposedly disappointing news (hours worked and wages were up but thats a different story for later) about the Government's Non-Farm Payrolls report on Friday, it's worthwhile to take a look back at the Monster Employment Index released the day prior.

This report showed conflicting data to the NFP report. Monster's Index showed a stronger job market in May and no signs of declines. These numbers aren't manipulated like that of the government's data so they should present a much more reliable source as well. After all, the government number could be raised or lowered by 50K easily when its revised next month.

Below is just the highlights that they summed up nicely for us. Read the whole report and you come out with a very positive view of the jobs market.


May 2010 Index Highlights:
• Index rises one point in May as employers continue to step-up hiring activity. Year-over-year growth rate climbs for the fourth consecutive month, and is now 14 percent (16 points)

• Healthcare and social assistance industry sees strongest rise in online job demand in May; management and accommodation/ food services contract

• Manufacturing and transportation industry continues 3-month growth trend

• Online job demand rises in 15 major metro markets monitored by the Index

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