HOLMDEL, N.J. [November 1, 2018] – Job openings increased by 13 percent and hires increased by 2 percent in October 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.
October 2018 Report Highlights
“This is another sign that this hot labor market just won’t quit, despite the turbulence we see in financial markets,” said Josh Wright, chief economist at iCIMS. “We have seen some mixed messages in recent surveys of consumer and business sentiment, but the labor market appears to be shrugging them off for the time being. If corporations are concerned about the economic outlook in the medium-term, in the very near term, they still seem focused on bringing in fresh talent to capitalize on the good days while they last.”
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.