HOLMDEL, N.J. [August 1, 2019] – U.S. employers’ hiring activity declined in July, yet new job openings saw an uptick, indicating employers still face challenges in filling roles. Before seasonal adjustments, new hires declined 2.4% and new job openings increased 10.4% in July, according to iCIMS’ Monthly Hiring Indicator (MHI).
The MHI is a leading economic indicator published by iCIMS, drawing upon its database of more than 75 million applications and 3 million jobs each year. New hires translate directly into payroll growth, after netting out departures, layoffs and other separations.
“This is another sign that job growth is moderating. Companies are still hiring, but they’re being a bit choosier about which roles to fill and which people to fill them with,” said Josh Wright, chief economist at iCIMS. “Between a slower economy in the near-term and ongoing digital transformation in the medium-term, employers have to make every hire count.”
July 2019 U.S. New Hires and Openings Highlights:
About the iCIMS Monthly Hiring Indicator (MHI) Methodology:
The iCIMS Monthly Hiring Indicator (MHI) measures job openings and new hires, based on iCIMS system data, which is generated by user activity within our platform. iCIMS processes more than 1 million hires per quarter and 75 million applications per year. While iCIMS supports employers across the globe, the MHI is based on U.S. hiring activity only. The figures present both indexes of hiring activity and their month-over-month percentage change, using a fixed panel of customers. To facilitate comparison with benchmark data from the Bureau of Labor Statistics, iCIMS publishes its indexes both with and without seasonal adjustments. Data from the MHI has been referenced by Bloomberg, The Wall Street Journal, Fox Business and NBC. To learn more about iCIMS’ MHI, visit iCIMS Hiring Insights, where the latest data and details on the methodology are both available for download.
iCIMS is the talent cloud company that empowers organizations to attract, engage, hire, and advance the right talent that builds a diverse, winning workforce. iCIMS accelerates transformation for a community of approximately 4,500 customers, including nearly half of the Fortune 100, that employ more than 35 million people worldwide. For more information, visit www.icims.com.