Monster Employment Index Shows Slight Drop in UK Online Recruitment in October

- Banking, Finance and Insurance Bounces Back —

London, November 13, 2007 - Online hiring activity dropped in the UK in October 2007 for the second consecutive month as the Monster Employment Index declined by two points. The Index dropped to a level of 160 points, due mainly to a significant decline in online demand in the sales sector. There were also notable decreases in opportunities for craft and related workers; and legislators, senior officials and managers. Overall, the Index is up by 35 points, or 28 per cent, compared to last October. The Monster Employment Index UK is a monthly analysis of millions of online job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster.co.uk.

"Most industries in the UK saw substantial growth in October despite online job opportunities falling for the second month in succession," said Andrea Bertone, Regional Director, Monster Worldwide Europe. "However, the decline in the October Index suggests some moderation in labour demand at the onset of the fourth quarter."

Monster Employment Index UK results over the past 14 months are as follows:

Sales Sector Experiences Sharp Decline in Demand

A dip in the sales sector was largely responsible for the decline in the October Monster Employment Index. Demand in this industry dropped by 37 points following steady growth in August and September. A fall in opportunities for professionals was the main contributor to the decrease. By contrast, demand for service workers and shop and market sales workers within this sector grew in October. All UK regions saw a decrease in sales opportunities, with London and East Anglia seeing the largest decrease.

A decrease in the arts, entertainment, sports and leisure industry was also a key factor in the Index's dip in October, dropping 17 Index points. The South East saw the most notable regional drop. 

Banking, finance and insurance recovered from three months of considerable decline, increasing by 28 Index points in October. This recovery was driven by increased demand for professionals; and technicians and associate professionals. Northern Ireland and the Midlands experienced the highest growth in this sector. Online opportunities in education, training and library also experienced significant growth in October.

"It is highly encouraging to see the banking, finance and insurance industry bounce back so strongly from the decline it has suffered recently. This growth may be due to the implementation of the MiFID directive in the UK and the recruitment of staff to handle additional reporting requirements," added Bertone.

Index Reports A Fall In Online Demand For Craft and Related Workers and Legislators, Senior Officials and Managers

For the second month in a row, online opportunities for craft and related workers fell, with October seeing a drop of 40 Index points. The most significant decline in demand was in production, manufacturing, maintenance and repair. Northern Ireland and the South West declined furthest as all UK regions saw a drop in hiring.

Demand for legislators, senior officials and managers dropped 25 Index points as a direct result of the decrease in the sales sector, having grown moderately for the previous two months. East Anglia and the South East saw the biggest drops.

Although demand for most occupations dropped in the UK in October, hiring of plant and machine operators and assemblers grew significantly, led by an increase in opportunities in construction and extraction. Technicians and associate professionals; and service workers and shop and market sales workers also saw higher online demand.