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The latest Monster Employment Index Europe published today by job board Monster Worldwide Inc, shows that online job demand was stable in August, as many recruiters across Europe slowed down hiring efforts in favour of the Summer vacations. Although job demand did not rise on a monthly basis, the annual growth trend extended once again, with opportunities now up by +15% compared to August 2009.
Among industry sectors, real estate noted a seasonal gain in online worker demand. Robust long-term growth trends continued to emerge in manufacturing and export related sectors including production, manufacturing, maintenance and repair and transport, post and logistics, where annual growth excelled the majority of other industry sectors.
Andrea Bertone, Head of Monster Europe, commented "the Summer months tend to see a slowdown in online recruitment activity, so it is encouraging to see that online job opportunities remained at their month-earlier levels and did not decrease in August. The annual growth rate also accelerated, which suggests we continue to be on the path to recovery. In addition, notable rises across Germany for workers in manufacturing and trade-related sectors point to a more optimistic future than seen over the past couple of years."
Belgium: Online job opportunities noted a mild dip in August, leaving the Index at its lowest level since March 2010. The majority of the decline can be attributed to a seasonal slowdown in hiring activity, typical for this time of year. Despite a slip this month, year-on- year the outlook remains positive with opportunities up one percent compared to August 2009.
France: Despite the Monster Employment Index declining in August, annual growth remained robust at 18%, matching the rate seen in July to suggest little change in underlying demand drivers for the French labour market.
Germany: The online job market in Germany continued on its positive trajectory in August, in line with strong economic performance, as second quarter GDP surged 2.2%, its fastest rate since country reunification. The Index showed a relatively strong trend through August, despite it being a traditionally quiet month of the year. Meanwhile, the jobless rate continued to improve in its most recent reading, with a level of 7.6 reported in July.
Italy: Italian hiring activity decreased in August for the first time in six months. Among industry sectors, hospitality and tourism noted the sharpest dip, a result of Summer seasonal hiring slowing. In contrast, significant growth was seen in research and development. In addition, while only two of the 20 regions monitored by the Monster Employment Index reported monthly growth, in most regions the decline was mild compared to the same period a year earlier.
The Netherlands: Online job demand saw another moderate dip in August, as seasonal recruitment trends typical for this time of year came to fruition. The annual growth rate also slowed once again in August, with demand now up a mild one percent. Industries most notable effected by the slowdown included legal, whilst the IT sector continued to exhibit the most sustained growth trend of all industries.
Sweden: Following an upswing at the beginning of the year, online recruitment activity slowed for the third consecutive month in August, leaving the Index at its lowest reading since January 2010. The monthly slowdown can largely be attributed to seasonal recruitment trends seen at this time of year. Although the Index experienced a mild annual decline in August, the annual growth rate increased to 26%, a strong sign that the overall recruitment industry is continuing on its path of recovery.
UK: Annual growth for the Monster Employment Index UK was measured at 19% in August, matching the rate seen in May and June and reflecting a steady long-term improvement in hiring conditions. Recruitment in management and consulting expanded at a relatively normal pace, but other business support service sectors such as HR and administrative, organisation showed slightly weakened demand trends.
N.B: The Index was launched in June 2005 with data from December 2004. It is based on 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.
To read the full Monster Employment Index Europe please click here