Wednesday we pointed to three reports that reflect job market improvement. On Thursday another encouraging sign emerged.
The Monster Employment Index for August was released. It recorded its highest monthly rate of improvement in four years spiking 6% higher than its July reading. The report -- produced monthly by the popular online jobs bulletin board -- registered increased job availability in a majority of industries, occupations, and regions.
The Monster Employment Index is a dynamic gauge of U.S. job demand based
on a real-time review of millions of employer work opportunities selected from a large representative sampling of corporate career Web sites and job boards, including Monster's own listings.
During August positive indications were broad based with online job postings rising in 15 of the Index's 20 industry sectors and 18 of the 23 occupational categories monitored by Monster.
In an press release, Monster's senior Vice President Jess Harriott reflected on the report: "The significant jump in the Monster Employment Index in August offers encouraging signs of improvement in the US economy with the demand for managers and professionals as well as sales and office workers picking up in time for the fall hiring season."
Indeed we would agree that the second half of 2009 will be characterized by surprisingly strong economic growth.
Thursday, September 3, 2009
Employment Index Makes Monster Jump
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GNE,
ReplyDeleteAre you concerned about the larger than expected increase in the unemployment rate? It sure looks like the rate is heading to more than 10%. Won't this dampend consumer spending and any recovery?
Anonymous,
ReplyDeleteOther indicators show that the recovery has started and is ramping quickly. Keep in mind that the unemployment rate is almost the last indicator to show that recovery started and that re-growth has begun. From the Christmas/Grey report, to the ADP report, to significantly dwindling job losses and the monster job board firmness. I'd say that the unemployment rate is at its peak and would be very surprised to see it go much higher before beginning its retreat.
Given the strength of the other indicators, I now believe that the retreat will be quite swift... much swifter than most economists are forecasting.
Happy Labor Day,
GNE