The Monster Employment Index Europe dipped by 16 points to a level of 139 in January as online job availability fell across the European Union.

The Netherlands and Sweden saw the biggest declines, of 17 points, while Germany dipped 10 points. Year-on-year the Index grew by 17 points, or 14%, showing continued growth in the EU job market, however this was the slowest annual growth rate in five months, indicating softer labour demand. The Monster Employment Index Europe is a monthly analysis of millions of online job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster.

Approximately half of the Index’s fall in January can be attributed to a seasonal slow-down, as recruitment generally eases around the end of the year. Online hiring declined in all sectors, although there was variation across Europe – with healthcare and social work taking the brunt in Germany, management and consulting in Sweden and banking, finance and insurance dropping by 26 points in the UK.

“The Monster Employment Index Europe’s dip in January was expected, but only part of the broad-based decline can be explained due to a seasonal slow-down,” said Andrea Bertone, Regional Director, Monster Worldwide Europe. “It is possible that employers have become more cautious in their hiring plans in face of a global economic downturn. However, it should be noted that online job availability remains well above levels from this time last year, reflecting historically low unemployment rates across Europe and increased utilisation of the Internet for recruitment.”