Monster Employment

This is a partial transcript from "Your World with Neil Cavuto," April 1, 2004, that was edited for clarity.

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STUART VARNEY, GUEST HOST: Speaking of unemployment, think there are no jobs out there? Well, my next guest disagrees. He’s head of the new Monster Employment Index, which found an increase in job recruitment and employment opportunities during the month of March. With us now from Massachusetts, Jeff Taylor, Monster’s founder and chairman. Sir, welcome to the program.


VARNEY: Well, I’m doing OK. You’re looking all right, too. I hear that you do online recruitment studies, and I want to ask you, what is the trend in online recruitment, say, going forward?

TAYLOR: Well, I think the trend right now is that we’re going to start counting those online jobs, for the first time we actually have an index now that is not just about counting the newspaper help-wanted ads and it’s not about surveying employers. We actually have the ability to count those jobs online, across the country, in this new Monster Employment Index.

VARNEY: You know, employment, joblessness, that’s a very big political story at the moment. Does your new index accurately count number of new jobs created and the general strength or otherwise of the employment situation?

TAYLOR: I think one of the challenges has been, are we counting the new corporations that are being created in this kind of rise of the economy? What we can do with this new job count is we have the ability to look at these new companies, and include those in our index. We have been counting jobs since October. We have the ability now to count about nine million jobs over the course of the six months.

VARNEY: I want you to tell me where those jobs are.

TAYLOR: Basically if you look at industries...

VARNEY: No, which states, can you tell me which states?

TAYLOR: Sure. Sure. We actually have growth in all nine census areas in the Southwest central, buoyed by Texas, that’s a big area right now. In January we had some nice growth from Virginia to Florida. But we have jobs all across the country. Very nice, sequential trend, January, February, March.

VARNEY: Right. Now, tell me which industries have the best job openings.

TAYLOR: We were talking just a second ago about health care. There are a lot of jobs in health care, but our index seems to show at least from an early sense that maybe those jobs are flattening out. Wholesale, retail, the financial area, education, and manufacturing are where the industries are that are hiring right now.

VARNEY: OK. Now, we’re going to get very important employment numbers first thing tomorrow morning, which are politically important. Can you tell us what your index is saying about job growth in this country as we approach the election?

TAYLOR: What I’m amazed about is when you add the online component with some of the other surveys, I think you see a nice complement, but you also see online we have jobs growth, especially since the beginning of the year.

VARNEY: All right, Jeff Taylor, the chairman and founder of Monster, thanks very much indeed for joining us. We appreciate you being with us.

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