By: E&P Staff
Online recruitment advertising hit $3.1 billion last year, with Monster.com and Yahoo! leading the way. But a new study out from Borrell Associates said newspaper-operated Web sites are poised for significant growth in the sector.
“The bad news for newspapers is that the Internet is now a mainstay of the recruitment market,” Borrell Associates’ Colby Atwood, senior analyst and vice president, said in a statement. “Newspapers definitely face significant competition from Monster, Yahoo!, various niche sites and even new local entrants such as radio and TV stations. But we feel that newspapers are increasingly well-positioned to benefit.”
The Virginia-based firm specializing in local media strategies forecast significant growth in new types of recruitment categories such as resume management, data mining, e-learning and candidate targeting.
Atwood went on to say that newspapers remain the driving force in local recruitment revenue. “Let’s remember that local advertisers still make up 70% of overall listings,” he said. “The local markets, especially in second- and third-tier cities, are for newspapers to lose.”