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The Monster Worldwide Inc. (NASD: MNST) employment index dropped nine points in January to a reading of 160 from a December reading of 169. The index is also down from the reading of 168 in January 2007, index's first annual decline on record.
"The index's decline in January was likely due to aspects of seasonality that continued over from the previous month as well as a slowing U.S. economy," said Jesse Harriott, VP of research at Monster. "The swift, recent actions by the Federal Reserve and the White House to enact fiscal and monetary measures designed to stimulate the broader economy are encouraging signs that could help reassure employers and consumers that an economic downturn may be brief."
The index is based on a review of online job ads.