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PART 1: Reading comprehension (circle the letter of the right answer)Face valueThe online job marketHow Jeff Taylor changed the way the labour market worksMonster.com, the worlds biggest online job-search site, shows how electronic marketplaces reach morepeople and can offer more efficiency than physical markets. It also shows that money can be made in suchmarkets: Monster has a long record of profitability.Jeff Taylor, who launched the site in 1994, says that Monster.com name is the firm's "single mostimportant success factor ". It introduces an image of youthful fun in what is basically a boring business.Supporting the brand is a big advertising budget which accounts for a quarter of the firm's costs. He runsexpensive ads during key sporting events such as the Super Bowl.Job-seekers supply resumés and employers pay to scan them or to post job ads. Most of the services thatjob seekers get are free, but they have to pay for a service that allows them to contact each other for adviceand career management. They can use this service to ask each other questions about, say, what it is like towork for a firm that they are thinking of joining.The main contribution of Monster has been to speed up hiring and vastly increase the accuracy of the jobsearch process. "You can post a job at 2 pm and get your first response at 2: 01," Mr Taylor says proudly. Andan employer who knows exactly what he wants can use Monster filters to search vast numbers of resuméswith precise accuracy. Monster is a serious threat to newspapers, which historically made 40% of theirrevenues from carrying ads., up to half of which were for staff. Headhunting firms have also lost business,because demand for their help in filling lower-level jobs has fallen.The online job market works well for workers and employers who know what they want. It works badly forpeople who are unsure. Check that your resumé says clearly what kind of job you want. The filters will thenmake sure that it reaches the right human resource department
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