HOLMDEL, N.J. [October 2, 2018] – Job openings increased by 0.8 percent and hires increased by 0.1 percent in September 2018, on a seasonally adjusted basis, according to the Monthly Hiring Indicator (MHI) produced by iCIMS Inc., a leading provider of cloud-based talent acquisition solutions.
The MHI is based on iCIMS data, which measures user activity within its platform. After netting out layoffs, quits, and other separations, hiring figures translate directly into payroll growth, and openings translate into future hires. Drawing on a database of more than 75 million applications and one million hires per quarter by more than 4,000 customers, iCIMS publishes monthly sets of statistics on hiring activity.
September 2018 Report Highlights
· Hiring was soft in retail trade — down a seasonally adjusted 5 percent — suggesting that weakness in this sector is set to continue, even as it grapples with challenges in recruiting seasonal workers.
· Manufacturers’ hiring activity was little changed from trend — up a seasonally adjusted 2 percent — suggesting that trade tensions have yet to dampen spirits in this sector. Payrolls in manufacturing should hold steady, and any weakness should remain contained. If anything, hiring activity appears smoother than in the last few years.
· The Midwest region saw the strongest gains in hires — 1 percent after seasonal adjustments, versus declines of 2 percent in the West and the South, and zero growth in the Northeast.
“Our Monthly Hiring Indicator saw a cool September, as it has in each of the prior two years, but nothing to suggest a major swing in labor market momentum,” said Josh Wright, chief economist at iCIMS. “We appear to be months away from any serious moderation in job growth, and recruiting will remain a struggle for employers.”
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 one 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. To learn more about iCIMS’ MHI and the methodology visit iCIMS Hiring Insights.
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.