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The Monster Worldwide Inc. employment index rose 10 points in February to a reading of 124. The index posted a positive long-term growth rate, up 2% on a year-over-year basis, for the first time since December 2007.
"Although some of the increase in the February index can be attributed to seasonality, a rise in hiring for sectors like manufacturing, transportation and wholesale trade offers an encouraging sign of increased investment and business activity," said Jesse Harriott, senior VP and chief knowledge officer at Monster Worldwide. "The fact that we are seeing a year-over-year increase in the index may be an early indication that companies are stepping up recruiting efforts and will begin hiring again."
Monster's index is based on a review of online job ads taken from a selection of Web sites, including Monster.