Thursday, the Monster Employment Index, which measures online job demand in the U.S., dropped four points month-on-month to 118 in March, results of a survey by the online employment solutions company Monster Worldwide revealed. The latest reading matched the level seen at the start of the year.

On an annual basis, the index slipped 29% in March. The drop in the index indicates that there is continued deceleration in online recruitment activity.

The Monster Employment Index is a monthly gauge of U.S. online job demand based on a real-time review of millions of employer job opportunities gathered from a large representative selection of corporate career web sites and job boards, including Monster.

Monster Worldwide's, senior Vice president Jesse Harriott said, The decline in U.S. online recruitment activity during March was a sober follow-up to February's seasonal rise, as uncertainty in the future economic situation continued to keep employers on the sidelines of the hiring field.

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