Monster’s employment index fell 4.8% year-over-year in January — meaning companies were looking to fill fewer positions online this month than they were a year ago. That’s another ominous sign for the economy, and could also mean slower sales for Monster, which reports Q4 results this afternoon.
“While the share-shift from print to online in recruitment advertising helps mitigate the effect of a cyclical slowing on Monster’s operating results,” Goldman analyst Peter P. Appert writes today, “the negative reading in January’s [Monster index] confirms that online recruitment advertising is not immune to the cyclical pressures facing the employment market.”
As employment trends weaken, and Monster likely cuts its estimates, “we see no rush to own the stock,” Appert says.
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