2011 philadelphia job market report

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LOCAL MARKET PHILADELPHIA 2011 JOB CONDITIONS Insights and Analysis from Professionals, Recruiters and Hiring Managers Brought to you by Monster Intelligence

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Page 1: 2011 Philadelphia Job Market Report

LOCAL MARKET

PHILADELPHIA 2011 JOB CONDITIONS Insights and Analysis from Professionals, Recruiters and Hiring Managers

Brought to you by Monster Intelligence

Page 2: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

PHILADELPHIA – 2011 JOB CONDITIONS The Philadelphia labor and economic market is gaining momentum though faces a long recovery, evidenced by declining indicators throughout the summer. Although dominated by a stable education and health sector (20 percent of employment), weakening conditions in government, manufacturing and construction are contributing to the difficult turn-around. Some of the soft indicators include: the regions’ unemployment rate which rose for the past three months, reaching 9.1 percent in July; payroll has been stable to negative the past three months; and online job postings are expanding, but are still significantly below prior year levels. Another challenge for the region is meeting employers’ expectations in key areas. Healthcare, Sales, IT and Finance show tight pools of talent to meet demand compared to other more robust areas like Administrative and Customer Service –like roles. Employers may need to compromise on hiring requirements to entice candidates into expanding roles or seek talent from other areas. The most recent data shows that Philadelphia’s “economy continues a moderate recovery that began during [the] first quarter of 2010, but that the rate of the recovery has slowed and the region’s economic growth will remain lackluster in the second half of the year.” The report predicts Philadelphia will recover at the same time as the U.S. in emerging from the recession with faster growth resuming late 2012.

1

Monster leveraged more than 683,000 Philadelphia resumes coupled with online job postings for Philadelphia talent in order to gain insight into candidates and employers. Data is current through July 2011 unless otherwise noted.

1 Greater Philadelphia Chamber of Commerce’s (gpcc.com) “Greater Philadelphia’s Economic Growth Rate Remains Positive Despite Projected

Decline over Next Several Quarters” August 2011

TABLE OF CONTENTS

MARKET CONDITIONS 3

Market Overview 3

Unemployment Rate 4

Payroll Change 5

Online Recruitment Trends 6

Recruitment Activity 7

HIRING TALENT IN 2011 8

Philadelphia Talent 8

Career Talent 9

Education Talent 9

Experienced Talent 9

SUPPLY AND DEMAND ANALYSIS 10

Labor Performance Matrix 12

Career Level Requirements 14

Education Level Requirements 14

Experience Requirements 14

Job Type Requirements 15

Job Status Requirements 15

Compensation 16

CONCLUSION 17

MONSTER INTELLIGENCE 17

Page 3: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

MARKET CONDITIONS With a relatively stable health and education sector, Philadelphia fared the recession better than other regions, yet will have a moderated recovery as companies work to regenerate business and hiring, consumer confidence slowly rebuilds, and the real estate market stabilizes.

MARKET OVERVIEW Philadelphia’s economy and job base is supported by solid health and education sectors, representing 21% of its total employment. The health sector is comprised of numerous biomedical and pharmaceutical companies, a strong hospital network, and an extensive supply of medical schools. The education sector houses over 100 colleges and universities, including a strong selection of law schools. Some of the area’s largest schools are the University of Pennsylvania (with 20,000 employees), Temple University, Villanova, and Penn State. Also contributing to its industry base, Philadelphia accommodates several federal government facilities as well as leverages its historic background as the first capital of the U.S. to generate a solid tourism business. Financial Services is another key sector. The financial crisis negatively impacted the region’s financial sector, including the Philadelphia Stock Exchange, evidenced by financial services employment dropping 10 percent from 2007 to 2010.

2

While Philadelphia’s housing market has been better off than most markets in the U.S and still offers some of the lowest housing prices in the northeast, the area is still managing a swell of foreclosures. The average listing of a home in August was $239,523 and the median sales price from May to July was $124,900, down 10.8% compared to the prior year. The region is forecasted to see houses depreciate by 2.7 percent in 2011.

3

In July 2011, Philadelphia had 2.7 million employed, 269,500 unemployed, and a 9.1 percent unemployment rate.4

Philadelphia’s key employment industries are the following

4:

2 Bureau of Labor Statistics; Select Greater Philadelphia 3 Housingpredictor.com; trulia.com 4 Philadelphia Workers Employed by Industry; Bureau of Labor Statistics, July 2011 data

Industry Percent of Philadelphia Employment

Education & Health Services 21%

Trade, Transportation, & Utilities 19%

Professional & Business Services 15%

Government 12%

Leisure & Hospitality 9%

Financial Activities 8%

Manufacturing 7%

Other Services 5%

All other industries 4%

Page 4: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

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Philadelphia vs. National Unemployment Rate, %

July '08 - July '11

Philadelphia National

From July 2010 to July 2011, Philadelphia gained a net 200 jobs. The sector to decline the most was Government, which lost a substantial 8,800 jobs. Manufacturing lost 5,700 jobs and Construction lost 5,500 during the twelve-month period. Offsetting the declines, the three sectors with the most growth were: Education & Health Services (+5,400); Professional & Business Services (+5,400), and Trade, Transportation & Utilities (+4,100). Moody’s Economy.com August 2011 forecast predicts an average 1.1 percent expansion in Philadelphia jobs over the next twelve months, slightly below the 1.5 percent rate expected for the nation. A majority of sectors are predicted to report limited growth, while Government, Manufacturing and Utilities are expected to report declines. The most recent Federal Reserve Beige Book report casts a gloomy picture of Philadelphia’s economic activity, showing growth has been and is expected to continue to be at a very slow rate. Local employment will follow this pace, with a measured return to strong consumer confidence, business activity and hiring.

5

UNEMPLOYMENT RATE In July, Philadelphia’s unemployment rate rose for the third consecutive month, increasing from 8.9 percent to 9.1 percent. The city’s unemployment rate peaked at 9.6 percent in February 2010. The Philadelphia July rate is the same as the nation’s rate of 9.1 percent while it exceeds Pennsylvania’s low unemployment rate of 7.8 percent.

6

The unemployment rate is a lagging measure that indicates both joblessness and strength of the economy. National and state figures are seasonally adjusted.

5 Federal Reserve District’s Beige Book for the Third District - Philadelphia, 7/27/11. 6, 8 Bureau of Labor Statistics

Page 5: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

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Philadelphia vs. National Payroll Growth, % YoY

July '08 - July '11

Philadelphia National

PAYROLL CHANGE After remaining stable or expanding for eleven months, Philadelphia’s payroll reported a -0.4 decline in May, a -0.5 decline in June, and then was stable in July. In comparison, Pennsylvania’s payroll continued its positive 2011 payroll growth by rising 1.3 percent in July. The national payroll expanded 1.0 percent in June, marking the eleventh

consecutive month of payroll expansion.8

Payroll change is a key measure of new job creation (or loss), as it measures the total number of people employed in an area every month.

Page 6: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

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Monster Employment Index

Philadelphia YoY Change

ONLINE RECRUITMENT TRENDS The Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activity by location, occupation, and industry. Though still well below average, online job recruitment activity in the Philadelphia metro area has reported positive expansion since March 2010 following its contraction from December 2007 through February 2010.

The Philadelphia MEI gained 6 percent (+4 points) from July to August. Year-over-year, the Index rose 22 percent (+13 points). The Index hit its low point of 36 points in January 2010.

During August, two of the 21 occupational categories monitored by the Index showed a decline in online demand for workers compared to a year prior: Healthcare Practitioners; and Arts, Design, Entertainment, Sports, and Media Occupations.

The greatest percentage improvements were seen in Transportation and Material Moving (+66 percent or +58 points); Construction and Extraction (+62 percent or +16 points); and Production (+60% or +46 points).

The Monster Employment Index presents a monthly snapshot of employer online recruitment activity nationwide for 28 of the largest metro areas, and is generally regarded as a key indicator of demand in the labor market. The Index is based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster. Using a baseline value of 100, the Index can be used to compare hiring trends across local markets and occupational groups. As such, a higher Index figure means stronger growth in online job availability.

Page 7: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

RECRUITMENT ACTIVITY The companies posting Philadelphia jobs on Monster from August 2010 to July 2011 vary across industries. Listed below are the top twenty (out of more than 700 industries) not including staffing or temporary employment agencies that may post for a variety of industries. The top 20 industries account for 45 percent of the Philadelphia jobs and are fairly concentrated in management and computer services.

The types of positions Philadelphia companies posted over the past year include roles primarily for IT (19 percent), Finance (13 percent), and Sales (13 percent).

Philadelphia Job Postings by Category % Total Job Postings

IT/Software Development 19%

Accounting/Finance/Insurance 13%

Sales/Retail/Business Development 13%

Medical/Health 8%

Engineering 4%

Administrative/Clerical 4%

Biotech/R&D/Science 4%

Business/Strategic Management 4%

Manufacturing/Production/Operations 3%

Customer Support/Client Care 3%

All Other 25%

5% - Management Services

5% - Management Consulting

4% - Accounting, Auditing & Bookkeeping

4% - Medical & Hospital Equipment

3% - Computer Programming Services

3% - Business Services

2% - National Commercial Banks

2% - Computer Services

2% - Drugs, Proprpietaries & Druggists' Sundries

2% - Radiotelephone Communications

2% - Business Consulting

2% - Medical Doctors Offices

2% - Insurance Agents, Brokers, & Services

1% - Pharmaceutical Preparations

1% - General Medical & Surgical Hospitals

1% - Computer Systems Design

1% - Fire, Marine & Casualty Insurance

1% - Security Brokers, Dealers & Flotation Companies

1% - Engineering Services

1% - Telephone Communications

Page 8: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

HIRING TALENT IN 2011 PHILADELPHIA TALENT The following data analyzes the supply (resumes) of Philadelphia professionals on Monster. It provides a current picture of available Philadelphia talent. Listed below are the top ten Philadelphia occupations in supply and their share of volume. These occupations account for 84 percent of Philadelphia’s talent.

Skills Listed in the chart below are the top skills made available by Philadelphia candidates on their Monster accounts. Microsoft Office products top the list followed by the critical skills of Communications, Leadership and Customer Service.

Office and Administrative Support - 24%

Management - 20%

Computer and Mathematical - 9%

Business and Financial Operations - 7%

Sales and Related - 7%

Arts, Design, Entertainment, Sports, and Media - 4%

Healthcare Practitioners and Technical - 4%

Architecture and Engineering - 3%

Life, Physical, and Social Science - 3%

Production - 3%

Page 9: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

The charts below give a detailed profile of Philadelphia talent found on Monster from August 2010 to July 2011 including career experience, education level and work experience. Philadelphia candidates found on Monster are typically Mid-Career with at most a Bachelor’s Degree and more than 15 years of work experience.

CAREER TALENT Nearly one-half (45 percent) of Philadelphia job seekers are Mid-Career. Thirty-two percent are Managers or above while 23 percent are emerging into today’s workforce.

EDUCATION TALENT A strong 47 percent of Philadelphia job seekers have at least a Bachelor’s Degree while 29 percent have an Associate’s degree or some college experience.

EXPERIENCED TALENT Nearly one-quarter (24 percent) of Philadelphia job seekers have more than 15 years of work experience. The second largest group is those with 2 to 5 years of experience, which comprises 19 percent of job seekers.

Executive5%

Manager27%

Mid Career45%

Entry Level14%

Student9%

Career Level

Masters or Above13%

Bachelors34%

Associate/Some-College

29%

High School17%

Certification-Vocational

7%

Education Level

More than 15 Years

10+ to 15 Years

7+ to 10 Years

5+ to 7 Years

2+ to 5 Years

1+ to 2 Years

Less than 1 Year

0% 5% 10% 15% 20% 25% 30%

Years of Work Experience

Page 10: 2011 Philadelphia Job Market Report

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SUPPLY AND DEMAND ANALYSIS The following analysis depicts a comparison of Monster job candidates seeking employment to the volume of job postings in the eighteen Pennsylvania, New Jersey and Delaware counties surrounding Philadelphia. It reveals higher supplies of talent in the counties some distance from Philadelphia, such as Berks, PA as well as Salem, Cape May, and Gloucester, NJ. These counties are denoted by the darker green areas in the map. Recruitment for candidates in other counties, such as Mercer, NJ and Montgomery and Chester, PA, may be more competitive as the ratio of resumes per job posting is much lower than in other Philadelphia areas. These regions are shown in the lighter shades. The types of roles these candidates are seeking span a wide range of areas with the highest volume targeting Administrative/Clerical (11 percent) opportunities followed by Sales/Retail/Business Development (8 percent) and Customer Support/Client Care (7 percent).

Philadelphia Job Seekers by Category % Total Job Seekers

Administrative/Clerical 11%

Sales/Retail/Business Development 8%

Customer Support/Client Care 7%

Medical/Health 6%

Accounting/Finance/Insurance 6%

IT/Software Development 6%

Marketing/Product 5%

Manufacturing/Production/Operations 4%

Business/Strategic Management 4%

Human Resources 3%

All Other 40%

Page 11: 2011 Philadelphia Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

The remainder of this report will focus on key Philadelphia professions and their supply and demand measures. Listed below are the top ten occupations in supply for job seekers and in demand by employers.

Thirty-three percent of the supply and 32 percent of the demand in Philadelphia are for the respective top ten occupation clusters listed above. Three of the ten occupations that are on the top ten employer list are not on the top ten job seeker list, indicating recruiters might have a challenge finding qualified candidates for some positions. Listed below are the top 20 out of nearly 2,700 job titles in which Philadelphia job seekers are interested. These 20 job titles account for 22 percent of Philadelphia talent and have a strong selection of administrative and manager-level roles.

# Job Titles (1-10) # Job Titles (11-20)

1 Customer Service Representative 11 Receptionist

2 Administrative Assistant 12 (General) Director

3 (General) Manager 13 Registered Nurse (RN)

4 Sales Representative 14 Office and Administrative Support Workers, Other

5 Project Manager 15 Assistant Manager

6 Office Manager 16 (General) Supervisor

7 Clerk/Typist 17 Customer Service

8 Executive Administrative Assistant 18 Human Resources Administrative Assistant

9 Medical Assistant 19 Financial Analyst

10 Retail Salesperson 20 Certified Nursing Assistant

Job S

eekers

Em

plo

yers

1. Computer Software Engineers, 8%

2. Accountants/Auditors, 4%

3. Marketing/Sales Managers, 3%

4. Human Resources Specialists, 3%

5. General/Operations Managers, 3%

6. Financial Analysts/Advisors, 3%

7. Secretaries/Administrative

Assistants, 2%

8. Computer Systems Analysts, 2%

9. Customer Service Reps., 2%

10. Financial Managers, 2%

● ● ●

1. Secretaries/Administrative

Assistants, 6%

2. Customer Service Reps., 5%

3. General/Operations Managers, 4%

4. Marketing/Sales Managers, 4%

5. Misc. Managers, 3%

6. Computer Software Engineers, 3%

7. Supervisors/Managers of Office and

Administrative Support Workers, 2%

8. Computer Systems Analysts, 2%

9. Sales and Related, 2%

10. Financial Analysts and Advisors, 2%

● ● ●

Page 12: 2011 Philadelphia Job Market Report

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The top 20 (out of over 2,500) Philadelphia job titles posted on Monster.com from August 2010 to July 2011 account for 16 percent of all job titles and represent a mix of industries.

# Job Titles (1-10) # Job Titles (11-20)

1 Software Engineer 11 Assistant Manager

2 Customer Service Representative 12 Truck Driver

3 Sales Representative 13 Accountant

4 Administrative Assistant 14 General Manager

5 Sr. Software Engineer 15 Accounts Payable Clerk

6 Financial Analyst 16 Cost Accountant

7 Product Manager 17 Recruiter

8 Staff Accountant 18 Bus Driver

9 Sr. Accountant 19 Architectural Drafter

10 Sales Executive 20 Registered Nurse (RN)

LABOR PERFORMANCE MATRIX The Labor Performance Matrix below and on the next page compares job posting and resume performance within the key Philadelphia occupation clusters. The size of the circle represents the supply based on the ratio of resumes per job from August 2010 through July 2011. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle represents areas where the demand may outweigh the supply.

HOW TO READ THE MATRIX: Talent Surplus Not enough jobs to match supply Plan for increased volume of candidates Focus on skills migration Incubator Opportunities (Growth Areas) High growth potential High Performance High volume in jobs and talent Focus on keeping talent and generating jobs Talent Shortage Not enough talent to meet demand At risk for competition

Page 13: 2011 Philadelphia Job Market Report

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Talent Surplus Administrative and Customer Service are the occupations in the Talent Surplus quadrant, showing a strong supply of resumes and fewer job opportunities to meet job seeker needs. Recruiters need to plan for additional time and resources to help screen increased volumes of candidates and could consider retraining or other workplace development programs to ensure the surplus of candidates are put to work. Incubator Opportunities (Growth Areas) The growth occupations span a wide range of categories and are prime for candidate and/or job opportunity expansion. High Performance The Sales occupation is squarely in the High Performance zone, while Healthcare, Finance and IT are bordering the quadrant. Each of these occupations is experiencing an ample volume of both job postings and seekers. The smaller circle sizes indicate demand may outweigh supply, showing the need for talent recruitment, re-training and retention management. Talent Shortage There are no occupations in the Talent Shortage area, but Healthcare, Finance and IT are close to this region. These occupations should be monitored to ensure a continuous supply of talent meets the stronger volume of jobs. The matrix below summarizes occupational supply and demand from August 2010 through July 2011.

Talent Surplus High Performance

Talent Shortage Incubator

Page 14: 2011 Philadelphia Job Market Report

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Executive

Manager

Experienced (Non-Manager)

Entry Level

Student

4%

15%

67%

13%

1%

5%

27%

45%

14%

9%

Philadelphia - Career Level

Job Postings Resumes

Masters/Doctorate

Bachelors

Associate/Some-College

High School

Certification - Vocational

7%

58%

8%

24%

3%

13%

34%

29%

17%

7%

Philadelphia - Education Level

Job Postings Resumes

More than 15 Years

10+ to 15 Years

7+ to 10 Years

5+ to 7 Years

2+ to 5 Years

1+ to 2 Years

Less than 1 Year

<1%

4%

7%

22%

38%

16%

13%

24%

16%

13%

12%

19%

9%

7%

Philadelphia - Years of Experience

Job Postings Resumes

In the following analysis, we compare Philadelphia talent demand (job postings) with talent supply (resumes) across a range of characteristics. The comparisons reveal the similarities and disparities between the available jobs and the searching seekers. This analysis provides direction for recruiters and employers in setting their expectations and development areas.

CAREER LEVEL REQUIREMENTS Sixty-seven percent of job postings are for mid-career talent compared with 45 percent of new resumes. Due to this imbalance, recruiters may need to be flexible in their career requirement, most likely leveraging the strong excess of over-qualified Manager-level candidates.

EDUCATION LEVEL REQUIREMENTS Philadelphia recruiters are concentrated in searching for candidates with at most a Bachelor’s Degree (58 percent) followed by seekers with at most a High School Degree (24 percent). Candidates are both more senior and junior, meaning recruiters might be forced to alter their expectations as well as compensation requirements.

EXPERIENCE LEVEL REQUIREMENTS A high 38 percent of job opportunities are for candidates with 2 to 5 years of experience compared to only 19 percent of available seekers. It is common that candidates are more senior compared to available jobs, yet Philadelphia has a particularly strong population of seasoned candidates (40 percent have over 10 years of experience). Some recruiters might need to settle on candidates with more years of experience than desired which could lead to higher compensation.

Page 15: 2011 Philadelphia Job Market Report

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Permanent

82%

Temp/

Contract

1%

Intern/

Seasonal

<1%

Either Type

17%

Philadelphia Job Type

New Resumes

Permanent

77%

Temp/

Contract

22%

Intern/

Seasonal

1%

Philadelphia Job Type

Job Postings

Full-time

79%

Part-time

3%

Either

Status

18%

Philadelphia Job Status

New Resumes

Full-time

94%

Part-time

6%

Philadelphia Job Status

Job Postings

JOB TYPE REQUIREMENTS Seventy-seven percent of Philadelphia job postings are for permanent positions and the remaining 23 percent are for temporary and intern work, which typically expand during an economic recovery as employers conservatively hire. With 18 percent of job seekers interested in a temporary role, employers might have to convince some job seekers to settle for a temporary instead of permanent position.

JOB STATUS REQUIREMENTS Ninety-four percent of job postings are for full-time employment and 6 percent for part-time, while 79 percent of candidates are open to full-time employment, 3 percent for part-time only, and 18 percent for either. Employers should have an ample pool of talent to meet their needs within these criteria.

Page 16: 2011 Philadelphia Job Market Report

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COMPENSATION Compensation expectations for recruiters and candidates are fairly disparate, with recruiters expecting to pay more than candidates are requiring. The median salary offered from August 2010 to July 2011 was $65,000 and the median salary candidates were seeking was $50,000. The discrepancy could be due to the types of jobs and candidates available, as well the salary requirements may represent total compensation for some job seekers and only a base salary for others. This gap could also be caused by the talent shortage in the Healthcare, IT and Finance sectors, the latter two which typically offer higher paying roles. A majority of Philadelphia job postings (31 percent) offer a salary ranging from $20-40,000 while a majority of candidates (36 percent) are requiring the same $20-40,000 range.

The chart below shows how far apart Philadelphia employer and candidate compensation requirements are and that the furthest gap is at $60,000, where 32% of candidates expect to earn at least $60,000 and over 47% of employers expect to pay at least $60,000.

Page 17: 2011 Philadelphia Job Market Report

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DIVERSIFY YOUR RECRUITMENT STRATEGY IN 2011

As the nation emerges from challenging times, recruiters should keep in mind the following points when planning for the next 12-months. Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presence and sourcing candidates. Today's recruiters must actively network across the Internet to get a more holistic view of the applicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individuals access advice from industry experts and keep on top of trends. These communities also offer employers access to a pool of targeted candidates. Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicate frequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs and eliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Search application, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiters save time and money sourcing candidates that precisely match their positions. Spend accordingly. As budget managers remain cautious, leverage as many benefits as possible that attract and retain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveraging Monster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reports and webinars covering the most current issues facing not only job seekers, but recruiters as well.

MONSTER INTELLIGENCE As the premier digital employment solution, Monster has consistently maintained a leadership position in defining and driving innovative products and services to champion digital recruitment. We see tremendous value in providing our clients, the online recruitment industry, and the public at large with analysis on both job seeker and employer behaviors, as well as general employment market trends. In direct response to our customers’ needs for strategic human capital intelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leaders and HR Executives real-time insight into market trends that will guide them in future recruitment planning. As a market leader, Monster is uniquely positioned to provide strategic information on employment trends to Corporate Executives and Hiring Managers. These tools provide our customers with views into the labor market and comprehensive information to further their employment strategy. More details are available at the Monster Resource Center at: http://hiring.monster.com/hr/hr-best-practices.aspx. We welcome your insight and comments on the monster intelligence reports and encourage you to let us know your thoughts by providing feedback at [email protected] Monster is the primary source of information for this report; it should only be interpreted as a definitive activity report on Monster and its subsidiaries. Monster’s in-depth data-driven approach improves on typical survey-based methodologies by dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior rather than intended behavior. Data is current through July 2011 unless otherwise indicated.

Page 18: 2011 Philadelphia Job Market Report

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