Monster European Employment Index Up 18%
The Monster Employment Index Europe demonstrated year-over-year growth of 18 percent. Thought Europe was headed to a massive recession? Ok, the index is actually flat to down since peaking at 140 in June. Clearly the trend is not optimal, but it's not as dire as most in the media would suggest.
The top growth areas were Engineering, Manufacturing, Transport, Telecommunication, and Real Estate. Clearly Europe lacks the mining and oil exploration growth that the US is seeing. This has and will be a major hamper to their economy as growing commodity prices can't be escaped via production increases.
The regional data is much more telling. Germany continues to soar up 37% YOY while all other regions have seen major declines since June. Even Belgium, France, Netherlands, and Sweden have seen declines. Not surprising to see Italy drop, but it does highlight why Germany wants the European Union to survive. The weakness in the other European countries is holding down the euro and making it more attractive for German exports. Without that weakness, Germany's currency would be soaring and their exports wouldn't be competitive.
Monster Worldwide (MWW) has been a recent addition to our model portfolios as the stock was crushed during the first part of 2011 yet employment trends remain positive.
The top growth areas were Engineering, Manufacturing, Transport, Telecommunication, and Real Estate. Clearly Europe lacks the mining and oil exploration growth that the US is seeing. This has and will be a major hamper to their economy as growing commodity prices can't be escaped via production increases.
The regional data is much more telling. Germany continues to soar up 37% YOY while all other regions have seen major declines since June. Even Belgium, France, Netherlands, and Sweden have seen declines. Not surprising to see Italy drop, but it does highlight why Germany wants the European Union to survive. The weakness in the other European countries is holding down the euro and making it more attractive for German exports. Without that weakness, Germany's currency would be soaring and their exports wouldn't be competitive.
Monster Worldwide (MWW) has been a recent addition to our model portfolios as the stock was crushed during the first part of 2011 yet employment trends remain positive.
Disclosure: Long MWW. Please review the disclaimer page for more details.
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