Yahoo’s Job Recruitment Arm Catching Up to Competitors

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By: Jennifer Saba

Yahoo’s strategy of snagging newspapers partnerships is working, according to a note released by Wachovia Equity Research senior analyst John Janedis and his team.

The Internet company’s recruitment arm, HotJobs is catching up with its two major competitors. Delving into comScore data, a third-party that measures Web site traffic, Wachovia found that Monster and CareerBuilder are losing share to HotJobs.

“We estimate that Yahoo HotJobs gained over 5% [points] of share among the top three sites in January 2007, which happens to coincide with the initial rollout of HotJobs on some newspaper partner sites,” wrote Wachovia analysts. “We think this is a trend worth watching.”

For the same time period — December 2006 to January 2007 — CareerBuilder lost approximately three percentage points. Monster’s share fell too, down about 1.5 percentage points.

Granted, HotJobs is working off a smaller base. In December, HotJobs claimed a little more than 6 million unique visitors, while CareerBuilder and Monster had more than 10 million and 11 million, respectively. But in January, the gap was closing, with more than 10 million unique visitors for HotJobs, more than 12 million for CareerBuilder, and more than 14 million for Monster.

Wachovia took into account the three company?s domestic traffic only.

Both Monster and HotJobs have been busy signing newspapers in order to boost growth. Last year Yahoo struck an alliance with nine newspaper companies. As part of the partnership, newspapers are providing online help-wanted advertising through a co-branded HotJobs platform.

Monster recently locked up a deal with The New York Times Co. to provide a co-branded platform to the New York Time’s portfolio of papers.

McClatchy, Gannett, and Tribune collectively own CareerBuilder.

Since most major papers — 116 out of the top 200 — have alliances with one of the big three recruitment players, it’s unlikely that future partnerships will have a major impact, according to Wachovia.

Also of note: The partnership between The Philadelphia Inquirer and Daily News is not driving much traffic. Analysts wrote the uniques for the co-branded site were slightly lower in January (21,000) than in September (28,000) though some of the impact could be seasonal.

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