Monster stock up as Jeetil Patel says the site’s traffic has stopped imploding. Good news for future jobs? (Or just more jobless desperately seeking jobs that aren’t there?)
Alas, the same can’t be said for CareerBuilder and HotJobs.
HARTFORD, Conn. (AP) — Shares of Monster Worldwide Inc. jumped Friday as an analyst said the online help-wanted service is the only major Internet employment site that is stabilizing.
“While all three of the large job boards reported more declines in July, Monster stands out as the only one showing early signs of stabilisation,” Deutsche Bank analyst Jeetil Patel said in a client note.
Page views for the New York-based company’s Web site were mostly flat in June and July, compared with declines of about 20 per cent for CareerBuilder and about 60 per cent for Yahoo! HotJobs, he said.
In a job market worse than at any time in more than 20 years, activity on online recruitment Web sites has been depressed throughout 2009, Patel said. In July, total page views declined an additional 6 per cent from a year ago after dropping 14 per cent year over year in the second quarter, he said.
“Unlike other categories, online recruitment has not yet seen a pick up in trends,” Patel said.
Niche recruitment sites continue to take market share, led by Indeed.com and what Patel said is its “user-friendly interface” that gathers data from other recruitment sites.
Recent U.S. Internet audience data for July show total page views were up 9 per cent from a year ago, to 497 billion, compared with “mostly flattish growth” year-to-date, he said.
In addition, unique visitor growth also accelerated, rising 3 per cent compared with last July, to 196 million.
Shares of Monster Worldwide rose 54 cents, or 3.4 per cent, to $16.41 in morning trading. Its share price has nearly tripled since its March 6 low.
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