Employment Index Rises 5 Percent Over the Year
Leading career site Monster.com has reported that its U.S. employment index grew by 5 percent year-over-year and 5 percent over the month. The top growth sectors for employment were the transportation and warehousing industries and retail trade is showing signs of accelerated growth. The information sector was flat year-over-year while educational services, utilities, and public administration have experienced record negative growth over the prior 12-month period.
Of the 20 industries monitored by the job data index, 14 showed positive annual growth. The top performers were transportation and warehousing (up 22 percent), wholesale trade (up 15 percent), retail trade (up 9 percent), and healthcare and social assistance (up 8 percent). The biggest annual loser thus far in 2012 is public administration having fallen 10 percent over-the-year.
Geographically, all 28 major metro markets reported positive annual growth for the month. Orlando displaced Indianapolis as the top growth market increasing by 21 percent over-the-year. Hiring conditions in Orlando are strong, especially in occupations such as those in computers, math, office and administration, building maintenance, and transportation. All major markets in California saw accelerated growth rates led by Los Angeles (up 10 percent). Rounding out the top five growth markets were Detroit (up 20 percent), Indianapolis (up 19 percent), Philadelphia (up 19 percent), and Houston (up 17 percent).
Portland continued to register a slowing growth rate, up 6 percent over-the-year but down from 14 percent in May. Washington, D.C. registered the lowest growth among monitored markets with a rate increase of 4 percent. The middle three of the five lowest growth metro areas were Minneapolis, Miami, and St. Louis, each with a growth rate increase of 5 percent.