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Higher unemplyment ahead? - "Monster: Worrisome Falloff In May Job Listings"
The number of job listings on employment Web site Monster Worldwide (MNST) fell dramatically in May compared with a year earlier, according to Deutsche Bank analyst Jeetil Patel.
Patel says that U.S. job postings are down 18% on a year-over-year basis for the quarter to date, with a 21% drop in May. That’s worse than the 8% slide in April. Patel says the shrinking number of listings could pressure revenue and profits in the June quarter. He says revenue from the North American careers segment could be down 10% year-over-year in the quarter, well below the 4% decline he had been projecting.
Patel says that U.S. job postings are down 18% on a year-over-year basis for the quarter to date, with a 21% drop in May. That’s worse than the 8% slide in April. Patel says the shrinking number of listings could pressure revenue and profits in the June quarter. He says revenue from the North American careers segment could be down 10% year-over-year in the quarter, well below the 4% decline he had been projecting.
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