By: Jennifer Saba
Online employment sites will continue to snag recruitment ads in 2006 and Monster.com is set to benefit the most, according to a report issued by Banc of America Securities on Monday. “We increasingly believe,” said the report, “that enterprise will continue to shift more of their recruitment budgets to [Monster] from other online players.”
Domestic job demand is expected to remain “robust” in 2006 with online sites gaining. According to Banc of America, recent counts from sites such as Craigslist show that postings are up 200%, “in stark contrast to our print newspaper counts.”
That said, online newspaper sites show growth as well. Online job postings at The New York Times were up 61% in December. The New Haven Register was up 23%, The Boston Globe grew 14%, The San Diego Union-Tribune was up 27%, and the St. Louis Post Dispatch increased 25% for the same month.
The research firm shows little concern — at least for the moment — for Google’s latest foray into classifieds, Google Base. “The product still has a way to go before getting to the level of reliability and relevancy that Monster offers to both job seekers and employers,” the report said.
An analysis found that Google Base has “numerous” dead links from staffing companies and that Monster’s resume database is hard to beat. Additionally, Google Base’s link agreement with CareerBuilder could extend to other players.