The Monster Employment Index Europe held steady in December, remaining at a level of 155, as sharply increased online recruitment activity in the UK and Sweden offset a significant decline in Germany. Meanwhile, the Netherlands saw a three point increase and France saw a one point dip.

December’s levelling follows three months of incremental growth driven mainly by the Netherlands, Sweden and France. Year-over-year, the Index remains 29 points higher and is showing an annual growth rate of 23 percent. 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.

The Index’s flat reading in December reflects significant changes in leading markets. Online job demand in Germany’s manufacturing segment dropped significantly, while seasonal downturns appeared to negatively impact recruitment efforts within France’s hospitality sector. In contrast, the UK and Sweden were buoyed by increased online opportunities in the banking, finance and insurance and environment, architecture and urbanism sectors.

“The Monster Employment Index Europe’s flat reading in December partly reflects the fact that many employers typically ratchet back their recruitment efforts during the year-end holiday season,” said Andrea Bertone, Regional Director, Monster Worldwide Europe. “Nevertheless, the Index remains at its highest level since its inception and is still showing very positive year-over-year growth in overall online job availability. However, increased food, oil and borrowing costs are likely to have a continued impact on employer confidence and hiring intentions in the coming year.”