Online Job Revenues Grow... but not this much!
Borrell Associates has released a report claiming Online Job Ad Revenues have tripled.
Having been head of corporate development at HotJobs, and cognizant of the fact that there are only six $10+ mm job boards today, I simply dont see how this could possibly be true.
The Newspaper Association of America shows a total growth in Newspaper recruitment spending (offline and online) of $433 mm through the first 9 months of this year, and Morgan Stnaley's Publishing Handbook 2006 asserts a 10.3% growth rate in total help-wanted spending at the newspapers in 2005.
Further, Morgan Stanley's estimates, which seem a lot more reasonable / in-line indicate online spending grew from $1.3 bn to $1.7 bn in 2005 while total help-wanted spending grew from $5.8 bn to $6.9 bn.
Other CEOs in the business I've blackberried this weekend find Borrell's number, while welcome if true, a bit boosterish and incredible.
I've e-mailed Kip Cassino, the report's author, for more data than is available in the skimpy Executive Summary, so stay tuned for more...
