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The Monster Worldwide Inc. (NASD: MNST) employment index fell 10 points to a reading of 150 in October from September. The index was also down 20% from its October 2007 reading of 188.
"The sharp decline in the Monster Employment Index in October suggests that U.S. businesses are scaling back their recruitment efforts due to uncertainty surrounding the global financial crisis and current economic conditions," said Jesse Harriott, VP of research at Monster Worldwide. "However, there are still pockets of elevated demand for workers in areas such as mining, healthcare and government, where online job opportunities remain above levels seen at this time last year."
Monster's index is based on a review of online job ads.