Monster's Europe Online Job Index Declines for a Second Month
Written on October 14, 2008
Monster Worldwide Inc.'s index of online job advertisements in seven European Union countries fell for a second month in September as demand for banking, automotive and transport workers declined.
The Monster Employment Index Europe, which surveys online job postings in Germany, the U.K., France, the Netherlands, Belgium, Italy and Sweden, fell to 155 from 159 in August, according to a report published today. That was the lowest since 139 in January.
“With the deepening global financial crisis threatening future growth prospects, companies across Europe have clearly become more cautious about hiring,' said Hugo Sellert, head of economic research at Monster Worldwide.
The worsening credit squeeze has increased pressure on Europe's economy, which shrank in the second quarter direct lender payday advance online. As demand falters, production is slowing and companies such as Ford Motor Co.'s Volvo subsidiary, Deutsche Bank AG and MAN AG are mulling job cuts. The unemployment rate in the 15-nation euro area rose to 7.5 percent in August, the highest level in more than a year.
Online hiring declined in the U.K., the Netherlands, France Italy and Belgium, according to Monster. It rose in Sweden and Germany.
The index of hiring in the banking and finance industry fell to 114 in September from 118 in August. It declined to 181 from 192 in the automotive industry and also slipped in the legal, transport, telecommunications, real estate and tourism industries.
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