It’s a sign Connecticut’s employment market may be turning a corner.
The August 2011 Monster Employment Index, created in partnership with the Connecticut Economic Resource Center (CERC), is a monthly gauge of online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of career web sites and online job listings.
It shows:
– Connecticut’s index grew by 3.25% between July and August 2011
– This was the highest month to month growth seen in four months
– For the third straight month the growth for Connecticut’s index was higher than either the New England or the U.S. index
– The 12 month moving average for growth in Connecticut’s index at 0.5 percent is the highest seen since January 2011.
– The 12 month moving average for growth for Connecticut’s index was the average seen for either New England or the U.S.
The Monster Employment Index is a leading indicator because it shows the willingness of firms to offer job opportunities. As more job opportunities become available, it can be assumed that this will translate into additional job hires in the future.