Monster Sees Dip In Online RecruitmentMonster Sees Dip In Online Recruitment

Rising gas prices and interest rates appear to be taking their toll on the pace of hiring, as Monster Worldwide Inc. reported Thursday that online recruitment activity has declined in 24 of the top 28 Metro markets.

The sharpest recruitment downturn was reported in Denver, Sacramento and Cincinnati, which all showed lower overall demand for workers.

On the plus side, Minneapolis and St. Louis saw an increase in online hiring activity while Atlanta and Baltimore were unchanged from May's hiring.

The Monster report marked a reversal in online hiring trends, which had been on an uptick in recent months.

The new Monster report indicated that major retailers are trimming their hiring, partially in keeping with typical seasonal summer slowdown hiring activity and as retail employers appear to be taking a more conservative approach to adding employees.

"The June findings of the Monster Local Employment Index suggest a mild slowdown in major metro market recruitment activity last month as consumer spending was further tempered by higher gasoline prices and rising interest rates," said Monster International group president Steve Pogorzelski, in a statement. "Broader business expansion activities slowed with the start of the summer vacation season."

Hiring in Washington D.C. remained the bleakest; Monster said the nation's capital has remained as the bottom performer on a year-over-year basis. Washington gained just a single point over the past 12 months.

One bright spot was hiring in business and financial occupations, which rose or held steady in 27 of the top 28 markets in June, according to Monster, which cited strong trends in Chicago, Cleveland, Indianapolis, Kansas City, and St. Louis for those positions.