Online Job Sites Attract Traffic From Newspapers

Web Hosting by Netfirms | Free Domain Names by Netfirms

NYC Temp Agencies Forum

Drama NYC (tm) - The Drama of Temping (tm), starring: Peter Everhard, Harry Les Trade, Johnson DeLarge, Rod Forrent, Dheep Dickens and others

Previous Message Next Message

Date: March 24, 2001 at 19:07:49
From: Marion
Subject: Online Job Sites Attract Traffic From Newspapers

URL: Yahoo News

Copyright Yahoo News

Saturday March 24 11:57 AM ET
Online Job Sites Attract Traffic From Newspapers

By Sarah Rose

NEW YORK (Reuters) - Although online job sites are suffering as the U.S. economy slows, analysts say they may weather the downturn as they steal revenue from newspaper classified ads.

Analysts who follow recruitment sites such as Monster.com, a unit of TMP Worldwide Inc. (NasdaqNM:TMPW - news), and HotJobs.com Inc. (NasdaqNM:HOTJ - news) worry that the collapse of the dot-com companies will mean fewer firms paying to post job advertisements, just as the number of people looking for work increases.

TMP Worldwide closed at $41-3/8 on Friday, well off a 52-week high of $91, though the company has outperformed the technology-laden Nasdaq stock market by 18 percent over the past year. HotJobs.com, which has trailed the Nasdaq by 47 percent, closed at $5-1/4 on Friday, off its year high of $31-7/8.

``The market seems to be coming to the conclusion that as the economy comes down, (online) advertising for jobs will come down, as has historically been the case with newspaper classified ads,'' said Thatcher Thompson, an analyst with Goldman Sachs.

But Thompson said he expected the companies would continue to grow. ``There's one big caveat and that is the ongoing transition from newspaper classifieds to online boards,'' he said.

Traffic at Internet recruiting sites has increased by nearly 40 percent over a year ago, according to data collected by research firm Jupiter Media Metrix.

Yet analysts worry that without an economic ``soft landing'' the number of companies hiring will not keep pace with the number of new job seekers hitting the sites.

``Its clear that the economy is much worse than expected and this could have a negative impact on job boards,'' said Andrea Williams Rice, analyst with Deutsche Banc Alex Brown.

Recruiting online allows companies to reach a broader audience than newspapers alone, analysts say.

``Corporations now understand the model,'' of online recruiting said Christopher Boone, an analyst with research firm IDC. ``It's cheaper, reaches a broader audience, and niche audiences,'' such as Information Technology workers.

And the implosion of dot-com companies which once advertised heavily on the boards may be a boon for more established firms that have had a difficult time filling skilled technical positions, analysts say.

``The cut-backs in Internet related industries created a large available talent pool that knows how to find things online, including jobs,'' Marc Engel, an analyst with Alexa Research, a unit of Amazon.com (NasdaqNM:AMZN - news), said recently.

View the previous message in this thread

Go to the top of this thread

View entire thread

Previous Message Next Message

Follow Ups:

[ NYC Temp Agencies Forum ] [ FAQ ]

ConvMsg 1.0-3

more nyc temp agencies see:
Christopher Paige Temp 247 ™ temporary employment agency New York City NYC Temp agencies Chicago Philadelphia Boston Washington DC
Tempcity ™ Temping NYC ™ temporary employment agency New York City NYC temp agencies Chicago Boston Philadelphia Washington DC
Drama NYC ™ Temp Agency New York City NYC Temp Agencies NY Temporary Employment Agency
BitchLess Blog ™ Temp Agency New York NY Strictly Apartments ™ Extended Stay Hotels Gay Travel
Hot Temp Jobs ™ temporary employment agency New York City NYC Temp Agencies Chicago Philadelphia Washington DC
Employeeless ™ Temping Consulting New York City NYC Temporary Employment Agency Temp Agency
Hot Temp Jobs ™ Strictly Real Estate ™ NYC New York City Apartments
Tempcities ™ NYC temp agencies temporary employment agency New York Philadelphia
The Tempster's Guide to NYC Temp Agencies ™ New York City Temp Agency temporary employment agency agencies
Tempcity Hot Temp Agencies ™ Hot Temp Agency ™
Tempcity Hot Temp Agencies ™ Hot Temp Agency ™
Tempcity USA ™
Honation ™ temping NYC temp agencies temp jobs New York City temp agencies
Tempcity ™ NYC Temp Agencies
Temping LA ™ - 24/7 Discussion and Chat for the Temp Posse ™"> A Relationship LLC Outfit
Temping SF ™ - 24/7 Discussion and Chat for the Temp Posse ™"> A Relationship LLC Outfit
Tempcity ™ Temp Agency NYC New York City Temp Agencies
TempCity.Net Postcards
All Men Are Temps ™ temp agency New York City NYC Temporary Employment Agencies
Temping NYC ™ NYC Temp Agencies
Mathieu DeLarge Temping NYC ™ NYC Temp Agency New York NY Temp Agencies
Strictly NYC ™ New York City Guide NYC Temp Agencies
Jessie Paige Actor Temp ™ NYC New York City Temp Agencies
Actor Temps ™ NYC New York City Temp Agencies
Strictly On Demand ™ Temping Consulting New York City NYC Temporary Employment Agency Temp Agency
The EmployeeLess Firm ™
Temping NYC ™ NYC Temp Agencies .Net ™