The Monster Worldwide Inc. employment index rose one point to a reading of 120 in October from a reading of 119 in September. The index is still down 20% on a year-over-year basis, but the decrease is the most moderate annual rate of decline since October 2008.

"The rise in the October index, along with an improvement in the annual rate, indicate a mild expansion in the underlying employer demand for workers," said Jesse Harriott, senior VP and chief knowledge officer at Monster. "While the decline in consumer confidence has likely contributed to reduced job demand in the retail and hospitality sectors, employers are actively recruiting in the healthcare and public sectors, resulting in stability of the overall index."

Monster's index is based on a review of online job ads taken from a selection of corporate career Web sites, including Monster.