Employment Market Shows Signs of Growth
The May 2012 Monster Employment Index U.S. showed a 3 percent growth between May 2011 and May 2012 and a 1 percent growth over April 2012. Recruitment growth was strongest in transportation and warehousing while finance and insurance has begun to gain momentum. Sectors experiencing a double-digit decrease in index scores were educational services, utilities, and public administration.
Year-over-year industry trends show that 13 of 20 industries showed positive annual growth with transportation and warehousing up 27 percent despite a reduction in demand for ground transit and sightseeing jobs. Finance and insurance was up 9 percent, information was up 8 percent, retail trade increased by 4 percent but slowed according to typical yearly trends. Public administration fell 14 percent and utilities fell 15 percent recording the steepest annual decline in the Index.
Year-over-year occupation trends showed a rise in demand for workers in 17 of 23 categories. Transportation and material moving were up 27 percent, architecture and engineering were up 13 percent on demand from the manufacturing sector, and education, training, and library fell 10 percent on the coattails of the broader education services decrease.
Geographically, all 28 metro areas experienced positive index growth in May with Indianapolis leading all metro markets with an 18 percent increase in index score. Detroit also experienced double-digit growth thanks to strong momentum in the production and transportation categories. Rounding out the top three growth markets is Chicago, up 9 percent but slowing.