By: E&P Staff
The Monster Employment Index (MEI) dropped several points in June to 186 from 189 in May. The index measures online employment in United States. Year-over-year, growth has slowed to 8% versus about 13% for the first five months of this year.
In a note issued by Goldman Sachs, analysts wrote the slide in June is worrisome. “While the slowdown in the growth rate in 2007 is consistent with our view that the employment market has weakened from the healthy pace of growth enjoyed in 2006, the step-down in the June rate adds additional concern,” wrote analysts.
Still, the research firm finds Monster’s “long-term growth story compelling.”
Goldman Sachs maintained its “neutral” rating on the company given the volatility in growth rates.