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2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
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2011 Philadelphia Job Market Report

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  • 1. LOCAL MARKETPHILADELPHIA2011 JOB CONDITIONSInsights and Analysis from Professionals,Recruiters and Hiring ManagersBrought to you by Monster Intelligence
  • 2. 2PHILADELPHIA – 2011 JOB CONDITIONSThe Philadelphia labor and economic market is gaining momentumthough faces a long recovery, evidenced by declining indicatorsthroughout the summer. Although dominated by a stable education andhealth sector (20 percent of employment), weakening conditions ingovernment, manufacturing and construction are contributing to thedifficult turn-around.Some of the soft indicators include: the regions’ unemployment ratewhich rose for the past three months, reaching 9.1 percent in July;payroll has been stable to negative the past three months; and onlinejob postings are expanding, but are still significantly below prior yearlevels. TABLE OF CONTENTS MARKET CONDITIONS 3Another challenge for the region is meeting employers’ expectations inkey areas. Healthcare, Sales, IT and Finance show tight pools of talent Market Overview 3to meet demand compared to other more robust areas like Unemployment Rate 4Administrative and Customer Service –like roles. Employers may need Payroll Change 5to compromise on hiring requirements to entice candidates into Online Recruitment Trends 6expanding roles or seek talent from other areas. Recruitment Activity 7The most recent data shows that Philadelphia’s “economy continues a HIRING TALENT IN 2011 8moderate recovery that began during [the] first quarter of 2010, but that Philadelphia Talent 8the rate of the recovery has slowed and the region’s economic growth Career Talent 9will remain lackluster in the second half of the year.” The report predicts Education Talent 9Philadelphia will recover at the same time as the U.S. in emerging from Experienced Talent 9 1the recession with faster growth resuming late 2012. SUPPLY AND DEMAND ANALYSIS 10Monster leveraged more than 683,000 Philadelphia resumes coupled Labor Performance Matrix 12with online job postings for Philadelphia talent in order to gain insight Career Level Requirements 14into candidates and employers. Data is current through July 2011 Education Level Requirements 14unless otherwise noted. Experience Requirements 14 Job Type Requirements 15 Job Status Requirements 15 Compensation 16 CONCLUSION 17 MONSTER INTELLIGENCE 171 Greater Philadelphia Chamber of Commerce’s (gpcc.com) “Greater Philadelphia’s Economic Growth Rate Remains Positive Despite ProjectedDecline over Next Several Quarters” August 2011Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 3. 3MARKET CONDITIONSWith a relatively stable health and education sector, Philadelphia fared the recession better than other regions, yet willhave a moderated recovery as companies work to regenerate business and hiring, consumer confidence slowlyrebuilds, and the real estate market stabilizes.MARKET OVERVIEWPhiladelphia’s economy and job base is supported by solid health and education sectors, representing 21% of its totalemployment. The health sector is comprised of numerous biomedical and pharmaceutical companies, a strong hospitalnetwork, 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 (with20,000 employees), Temple University, Villanova, and Penn State.Also contributing to its industry base, Philadelphia accommodates several federal government facilities as well asleverages its historic background as the first capital of the U.S. to generate a solid tourism business. Financial Servicesis another key sector. The financial crisis negatively impacted the region’s financial sector, including the Philadelphia 2Stock Exchange, evidenced by financial services employment dropping 10 percent from 2007 to 2010.While Philadelphia’s housing market has been better off than most markets in the U.S and still offers some of the lowesthousing prices in the northeast, the area is still managing a swell of foreclosures. The average listing of a home inAugust was $239,523 and the median sales price from May to July was $124,900, down 10.8% compared to the prior 3year. The region is forecasted to see houses depreciate by 2.7 percent in 2011. 4In July 2011, Philadelphia had 2.7 million employed, 269,500 unemployed, and a 9.1 percent unemployment rate. 4Philadelphia’s key employment industries are the following : 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%2 Bureau of Labor Statistics; Select Greater Philadelphia3 Housingpredictor.com; trulia.com4 Philadelphia Workers Employed by Industry; Bureau of Labor Statistics, July 2011 dataCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 4. 4From 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-monthperiod. 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 thenext twelve months, slightly below the 1.5 percent rate expected for the nation. A majority of sectors are predicted toreport 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, showinggrowth has been and is expected to continue to be at a very slow rate. Local employment will follow this pace, with a 5measured return to strong consumer confidence, business activity and hiring.UNEMPLOYMENT RATEIn July, Philadelphia’s unemployment rate rose for the third consecutive month, increasing from 8.9 percent to 9.1percent. The city’s unemployment rate peaked at 9.6 percent in February 2010. The Philadelphia July rate is the same 6as the nation’s rate of 9.1 percent while it exceeds Pennsylvania’s low unemployment rate of 7.8 percent.The unemployment rate is a lagging measure that indicates both joblessness and strength of the economy. National andstate figures are seasonally adjusted. Philadelphia vs. National Unemployment Rate, % July 08 - July 11 11.0 9.0 7.0 5.0 3.0 Jul-10 Jul-08 Jan-09 Jul-09 Jan-10 Jan-11 Jul-11 Nov-08 Nov-09 Nov-10 Mar-09 Mar-10 Mar-11 May-09 May-10 May-11 Sep-08 Sep-09 Sep-10 Philadelphia National5 Federal Reserve District’s Beige Book for the Third District - Philadelphia, 7/27/11.6, 8 Bureau of Labor StatisticsCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 5. 5PAYROLL CHANGEAfter remaining stable or expanding for eleven months, Philadelphia’s payroll reported a -0.4 decline in May, a -0.5decline in June, and then was stable in July. In comparison, Pennsylvania’s payroll continued its positive 2011 payrollgrowth by rising 1.3 percent in July. The national payroll expanded 1.0 percent in June, marking the eleventh 8consecutive month of payroll expansion.Payroll change is a key measure of new job creation (or loss), as it measures the total number of people employed in anarea every month. Philadelphia vs. National Payroll Growth, % YoY July 08 - July 11 2.0 0.0 -2.0 -4.0 -6.0 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Nov-08 Nov-09 Nov-10 Mar-09 Mar-10 Mar-11 Sep-08 May-09 Sep-09 May-10 Sep-10 May-11 Philadelphia NationalCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 6. 6ONLINE RECRUITMENT TRENDSThe Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activityby location, occupation, and industry. Though still well below average, online job recruitment activity in the Philadelphiametro area has reported positive expansion since March 2010 following its contraction from December 2007 throughFebruary 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). Monster Employment Index Philadelphia YoY Change 160 60% 140 40% 120 20% YoY Change, % Index=100 100 0% 80 -20% 60 -40% 40 -60% 20 -80% Jun-09 Jun-10 Jun-11 Feb-09 Feb-10 Feb-11 Oct-08 Oct-09 Oct-10 Apr-11 Dec-08 Apr-09 Dec-09 Apr-10 Dec-10 Aug-08 Aug-09 Aug-10 Aug-11 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.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 7. 7RECRUITMENT ACTIVITYThe companies posting Philadelphia jobs on Monster from August 2010 to July 2011 vary across industries. Listedbelow are the top twenty (out of more than 700 industries) not including staffing or temporary employment agencies thatmay post for a variety of industries. The top 20 industries account for 45 percent of the Philadelphia jobs and are fairlyconcentrated in management and computer services. 5% - Management Services 2% - Business Consulting 5% - Management Consulting 2% - Medical Doctors Offices 4% - Accounting, Auditing & Bookkeeping 2% - Insurance Agents, Brokers, & Services 4% - Medical & Hospital Equipment 1% - Pharmaceutical Preparations 3% - Computer Programming Services 1% - General Medical & Surgical Hospitals 3% - Business Services 1% - Computer Systems Design 2% - National Commercial Banks 1% - Fire, Marine & Casualty Insurance 1% - Security Brokers, Dealers & Flotation 2% - Computer Services Companies 2% - Drugs, Proprpietaries & Druggists 1% - Engineering Services Sundries 2% - Radiotelephone Communications 1% - Telephone CommunicationsThe 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 PostingsIT/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%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 8. 8HIRING TALENT IN 2011PHILADELPHIA TALENT SkillsThe following data analyzes the supply (resumes) of Listed in the chart below are the top skills madePhiladelphia professionals on Monster. It provides a available by Philadelphia candidates on theircurrent picture of available Philadelphia talent. Monster accounts. Microsoft Office products top the list followed by the critical skills ofListed below are the top ten Philadelphia occupations in Communications, Leadership and Customersupply and their share of volume. These occupations Service.account for 84 percent of Philadelphia’s talent. 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%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 9. 9The charts below give a detailed profile of Philadelphia talent found on Monster from August 2010 to July 2011 includingcareer 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 Career LevelNearly one-half (45 percent) of Philadelphia job seekers are Student ExecutiveMid-Career. Thirty-two percent are Managers or above 9% 5%while 23 percent are emerging into today’s workforce. Entry Level 14% Manager 27% Mid Career 45%EDUCATION TALENT Education LevelA strong 47 percent of Philadelphia job seekers have atleast a Bachelor’s Degree while 29 percent have an Certification Masters or -VocationalAssociate’s degree or some college experience. 7% Above 13% High School 17% Associate/ Bachelors Some- 34% College 29%EXPERIENCED TALENTNearly one-quarter (24 percent) of Philadelphia job seekers Years of Work Experiencehave more than 15 years of work experience. The secondlargest group is those with 2 to 5 years of experience, which More than 15 Yearscomprises 19 percent of job seekers. 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%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 10. 10SUPPLY AND DEMAND ANALYSISThe following analysis depicts a comparison of Monster jobcandidates seeking employment to the volume of job postings inthe eighteen Pennsylvania, New Jersey and Delaware countiessurrounding Philadelphia. It reveals higher supplies of talent inthe counties some distance from Philadelphia, such as Berks,PA as well as Salem, Cape May, and Gloucester, NJ. Thesecounties 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 competitiveas the ratio of resumes per jobposting is much lower than in otherPhiladelphia areas. These regionsare shown in the lighter shades.The types of roles these candidates are seeking span a wide range of areas with the highest volume targetingAdministrative/Clerical (11 percent) opportunities followed by Sales/Retail/Business Development (8 percent) andCustomer Support/Client Care (7 percent).Philadelphia Job Seekers by Category % Total Job SeekersAdministrative/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%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 11. 11The remainder of this report will focus on key Philadelphia professions and their supply and demand measures. Listedbelow are the top ten occupations in supply for job seekers and in demand by employers. Job Seekers Employers 1. Secretaries/Administrative 1. Computer Software Engineers, 8% Assistants, 6% 2. Accountants/Auditors, 4% 2. Customer Service Reps., 5% 3. Marketing/Sales Managers, 3% 3. General/Operations Managers, 4% 4. Human Resources Specialists, 3% 4. Marketing/Sales Managers, 4% 5. General/Operations Managers, 3% 5. Misc. Managers, 3% 6. Financial Analysts/Advisors, 3% 6. Computer Software Engineers, 3% 7. Secretaries/Administrative 7. Supervisors/Managers of Office and Assistants, 2% Administrative Support Workers, 2% 8. Computer Systems Analysts, 2% 8. Computer Systems Analysts, 2% 9. Customer Service Reps., 2% 9. Sales and Related, 2% 10. Financial Managers, 2% 10. Financial Analysts and Advisors, 2% ● ● ● ● ● ●Thirty-three percent of the supply and 32 percent of the demand in Philadelphia are for the respective top tenoccupation clusters listed above. Three of the ten occupations that are on the top ten employer list are not on the topten 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 jobtitles account for 22 percent of Philadelphia talent and have a strong selection of administrative and manager-levelroles. # 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 AssistantCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 12. 12The top 20 (out of over 2,500) Philadelphia job titles posted on Monster.com from August 2010 to July 2011 account for16 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 competitionCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 13. 13Talent SurplusAdministrative and Customer Service are the occupations in the Talent Surplus quadrant, showing a strong supply ofresumes and fewer job opportunities to meet job seeker needs. Recruiters need to plan for additional time andresources to help screen increased volumes of candidates and could consider retraining or other workplacedevelopment 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 PerformanceThe Sales occupation is squarely in the High Performance zone, while Healthcare, Finance and IT are bordering thequadrant. Each of these occupations is experiencing an ample volume of both job postings and seekers. The smallercircle sizes indicate demand may outweigh supply, showing the need for talent recruitment, re-training and retentionmanagement.Talent ShortageThere are no occupations in the Talent Shortage area, but Healthcare, Finance and IT are close to this region. Theseoccupations 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 Incubator Talent ShortageCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 14. 14In the following analysis, we compare Philadelphia talent demand (job postings) with talent supply (resumes) across arange of characteristics. The comparisons reveal the similarities and disparities between the available jobs and thesearching seekers. This analysis provides direction for recruiters and employers in setting their expectations anddevelopment areas.CAREER LEVEL REQUIREMENTSSixty-seven percent of job postings are for mid-career Philadelphia - Career Leveltalent compared with 45 percent of new resumes. Due Job Postings Resumesto this imbalance, recruiters may need to be flexible intheir career requirement, most likely leveraging the 4% Executive 5%strong excess of over-qualified Manager-levelcandidates. 15% Manager 27% 67% Experienced (Non-Manager) 45% 13% Entry Level 14% 1% Student 9%EDUCATION LEVEL REQUIREMENTSPhiladelphia recruiters are concentrated in searching for Philadelphia - Education Levelcandidates with at most a Bachelor’s Degree (58 Job Postings Resumespercent) followed by seekers with at most a High School 7%Degree (24 percent). Candidates are both more senior Masters/Doctorate 13%and junior, meaning recruiters might be forced to alter 58%their expectations as well as compensation Bachelorsrequirements. 34% 8% Associate/Some-College 29% 24% High School 17% 3% Certification - Vocational 7% Philadelphia - Years of ExperienceEXPERIENCE LEVEL REQUIREMENTS Job Postings ResumesA high 38 percent of job opportunities are for candidateswith 2 to 5 years of experience compared to only 19 <1% More than 15 Years 24%percent of available seekers. It is common that 4%candidates are more senior compared to available jobs, 10+ to 15 Years 16%yet Philadelphia has a particularly strong population of 7%seasoned candidates (40 percent have over 10 years of 7+ to 10 Years 13%experience). Some recruiters might need to settle on 22%candidates with more years of experience than desired 5+ to 7 Years 12%which could lead to higher compensation. 38% 2+ to 5 Years 19% 1+ to 2 Years 16% 9% 13% Less than 1 Year 7%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 15. 15JOB TYPE REQUIREMENTSSeventy-seven percent of Philadelphia job postings are for permanent positions and the remaining 23 percent are fortemporary and intern work, which typically expand during an economic recovery as employers conservatively hire. With18 percent of job seekers interested in a temporary role, employers might have to convince some job seekers to settlefor a temporary instead of permanent position. Philadelphia Job Type Philadelphia Job Type New Resumes Job Postings Intern/ Either Type Seasonal Intern/ 17% 1% Seasonal <1% Temp/ Temp/ Contract Contract 1% 22% Permanent 77% Permanent 82%JOB STATUS REQUIREMENTSNinety-four percent of job postings are for full-time employment and 6 percent for part-time, while 79 percent ofcandidates are open to full-time employment, 3 percent for part-time only, and 18 percent for either. Employers shouldhave an ample pool of talent to meet their needs within these criteria. Philadelphia Job Status Philadelphia Job Status New Resumes Job Postings Either Status Part-time 18% 6% Part-time 3% Full-time Full-time 79% 94%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 16. 16COMPENSATIONCompensation expectations for recruiters and candidates are fairly disparate, with recruiters expecting to pay more thancandidates are requiring. The median salary offered from August 2010 to July 2011 was $65,000 and the median salarycandidates were seeking was $50,000. The discrepancy could be due to the types of jobs and candidates available, aswell 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 whichtypically offer higher paying roles.A majority of Philadelphia job postings (31 percent) offer a salary ranging from $20-40,000 while a majority ofcandidates (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 thefurthest gap is at $60,000, where 32% of candidates expect to earn at least $60,000 and over 47% of employers expectto pay at least $60,000.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 17. 17DIVERSIFY YOUR RECRUITMENT STRATEGY IN 2011As the nation emerges from challenging times, recruiters should keep in mind the following points when planning for thenext 12-months.Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presenceand sourcing candidates. Todays recruiters must actively network across the Internet to get a more holistic view of theapplicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individualsaccess advice from industry experts and keep on top of trends. These communities also offer employers access to apool of targeted candidates.Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicatefrequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs andeliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Searchapplication, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiterssave 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 andretain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveragingMonster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reportsand webinars covering the most current issues facing not only job seekers, but recruiters as well.MONSTER INTELLIGENCEAs the premier digital employment solution, Monster has consistently maintained a leadership position in defining anddriving innovative products and services to champion digital recruitment. We see tremendous value in providing ourclients, 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 capitalintelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leadersand 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 CorporateExecutives and Hiring Managers. These tools provide our customers with views into the labor market andcomprehensive 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. Wewelcome your insight and comments on the monster intelligence reports and encourage you to let us know yourthoughts by providing feedback at Intelligence@monster.comMonster is the primary source of information for this report; it should only be interpreted as a definitive activity report onMonster and its subsidiaries. Monster’s in-depth data-driven approach improves on typical survey-based methodologiesby dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior ratherthan intended behavior. Data is current through July 2011 unless otherwise indicated.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 18. 18Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.

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