What is the Monster Employment Index? It is, according to the index's web site, "a broad and comprehensive monthly analysis of US online job demand conducted by Monster Worldwide, Inc. Based on a real-time review of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster, the Monster employment Index presents a snapshot of employer online recruitment activity nationwide."
In other words, it is an index created by Monster.com to track private sector hiring. This particular index is not considered as significant as the ADP Employment Report - it actually falls in with the Challenger Jobs Report in terms of importance - mostly because it doesn't track either employment or unemployment. It only tracks job openings, and then only those posted online. So its focus is a little tight.
Last month, the index hit a level of 129 (October 2003 is 100). Looking at the March report, we see that the index climbed 7 points to a level of 136 in March (an increase of 5%), with the annual growth rate in hiring increasing to 9%.