Monster Employment Index Shows Notable Growth in July; Oil & Gas Jobs Make Big Bounce
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In contrast to today's nonfarm payroll numbers, and an alternative to ADP's employment change index, Monster (NYSE: MWW) releases its own employment index monthly.
For July, the index slipped two points to 144, from 146 in June. On a year-over-year basis, the index is up four percent from 138 in July 2010.
Monster reports 11 of 20 industries reported growth in the month. The biggest gain was made in Mining, Quarrying, Oil and Gas Extraction, which popped 52 percent higher to 277. Transportation and Warehousing gained 23 percent to 196 on increased demand for logistics workers. On the opposite end, Public Administration fell 16 percent to 167 and Management of Companies and Enterprises fell 11 percent to 109.
The highest growing occupational field was Installation, Maintenance and Repair, up 25 percent to 169, while the lowest was Food Prep and Serving, down ten percent to 106.
Detroit was the top growing market, up 34 percent to 119, while New York experienced the slowest growth at four percent.
Today's nonfarm numbers showed the addition of 117,000 payrolls in July, beating expectations for 84,000 additions. The number was a marked gain from 18,000 adds in June.
Earlier in the week, ADP reported a 114,000 employment change, besting views for 100,000, but down from 157,000 reported in the prior month.
Markets have been whipsawing all day on debt concerns, but most are positive Friday afternoon.
For July, the index slipped two points to 144, from 146 in June. On a year-over-year basis, the index is up four percent from 138 in July 2010.
Monster reports 11 of 20 industries reported growth in the month. The biggest gain was made in Mining, Quarrying, Oil and Gas Extraction, which popped 52 percent higher to 277. Transportation and Warehousing gained 23 percent to 196 on increased demand for logistics workers. On the opposite end, Public Administration fell 16 percent to 167 and Management of Companies and Enterprises fell 11 percent to 109.
The highest growing occupational field was Installation, Maintenance and Repair, up 25 percent to 169, while the lowest was Food Prep and Serving, down ten percent to 106.
Detroit was the top growing market, up 34 percent to 119, while New York experienced the slowest growth at four percent.
Today's nonfarm numbers showed the addition of 117,000 payrolls in July, beating expectations for 84,000 additions. The number was a marked gain from 18,000 adds in June.
Earlier in the week, ADP reported a 114,000 employment change, besting views for 100,000, but down from 157,000 reported in the prior month.
Markets have been whipsawing all day on debt concerns, but most are positive Friday afternoon.
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