Employers spent more on online recruitment advertising than newspaper job ads, $5.9 billion to $5.4 billion for the first time in 2006.
According to market research firm Borrell Associates Inc, the online shift will continue over the next five years as Internet job listings hit $10 billion in 2011 or 13.7% of overall recruitment dollars compared to 6.5% for newspaper ads.
Much of the online growth is expected to come from small and medium-sized businesses posting local ads for hourly and part-time workers. Already, two-thirds of online job revenues are generated by niche boards or regional Web sites focusing on specific categories such as nursing, technology or food services. Rivals Monster and CareerBuilder, respectively, control 14% and 12% of the online job market, while newspapers not affiliated with either job site claim 8%.
Monster has taken aggressive steps this year to boost its share of local job ads by forging partnerships with newspapers dumping CareerBuilder such as The Philadelphia Inquirer, the Wilkes-Barre Times Leader and the Akron Beacon Journal. Yahoo's HotJobs also made a play for more local classifieds, striking agreements with eight publishing companies representing more than 200 newspapers nationwide.
The study warned that the deals may not turn out so well for the online partners, either. Because papers rely heavily on converting print advertisers to online ones, Monster and HotJobs may find revenue gains elusive.
While free-listing sites such as Craigslist and Google Base have been seen as among the biggest threats to newspaper classifieds, they'll "continue to take bites out of the recruitment listings and revenue pies.
With only about one-third of
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