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Online Job Board Revenues Grow Faster Than Print
NEW YORK -- Revenues for the three leading national online job boards in the second quarter of 2004 were up 38% compared to a year ago, according to estimates by Corzen Inc. During the same period, print recruitment advertising in daily newspapers was up only 20%, estimates by the Newspaper Association of America show.The online job boards surveyed include Monster, Careerbuilder and HotJobs.Although both traditional print advertising and online job boards are benefiting from generally improved economic conditions in 2004, the data indicate that online job boards are benefiting to a greater extent. "It's typical for recruitment advertising to pick up during even modest economic recoveries," said Bruce Murray, chief executive officer of Corzen. "Although everyone has felt for some time that the economy would improve, no one was sure if the presence of online job boards would limit the upside for newspapers during the recovery."Based on this most recent set of data, it is possible that the cyclical recovery in help wanted advertising that newspapers normally experience will be tempered by competing job boards that offer online job postings often for a fraction of the price of a typical classified ad in a daily newspaper. In the first quarter of 2004, for instance, online job board revenue growth was 27%, while the growth rate for daily newspaper help wanted advertising was only 4%.Corzen's data also estimates revenue share trends in more than 100 local metropolitan areas in the United States. In the majority of these markets, growth rates for online revenues parallel the overall growth rates on a national level.Visit Corzen Inc.: www.corzen.com"