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October Employment Index Shows CT, New England on an Upswing

December 29, 2011

October's Monster Employment Index, analyzed by the Connecticut Economic Resource Center, Inc. (CERC), indicates a volatility in Connecticut and the New England region as both regions bounced back to be on a growth trend that started in May of this year before dropping significantly in September. Since May, Connecticut's average monthly growth has been 1.7%, four tenths of a percentage point above New England's and sixth tenths higher than the trend for the U.S.

Connecticut's index increased by 5.7% between September and October 2011. This was the highest growth since the growth between March and April 2010 when the state grew by 8%. This growth between September and October more than compensated for the decline of 3.9% seen between August and September. The monthly growth observed for Connecticut's Monster index was 3.7% above the nation's and 1.8% above the New England region. Connecticut's online job index is 8.4% higher than it was a year ago. New England's is only 7.3% higher. The U.S., however, is 11.0% higher. Connecticut's index was 26 points below the U.S. total.

The Monster Employment Index is a monthly gauge of online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of career web sites and online job listings. The Index is a leading indicator showing the willingness of firms to offer job opportunities; more opportunities assume additional job hires in the future.

CERC is partnering with Monster Government Solutions, a subsidiary of Monster Worldwide, to offer exclusive, real time Connecticut labor market data on a month-to-month basis. Visit the online, interactive CERC/Monster Employment Index Dashboard (choose Monster Employment Index from the At a Glance dropdown menu).

visit CERC's website for additional information.

Member News is provided as a service of the Midstate Chamber of Commerce and is also featured in the monthly "Chamber News" newsletter mailed to members.