HOLMDEL, N.J. [September 5, 2019] – U.S. employers continued to increase their hiring, but new job openings slowed in August. Before seasonal adjustments, new hires increased 13.0% and new job openings increased 8.8%, according to iCIMS’ Monthly Hiring Indicator (MHI). This is the smallest rise in openings before seasonal adjustments that iCIMS has seen during the month of August over the last four years.
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.
“The sky isn’t falling yet,” said Josh Wright, chief economist at iCIMS. “While this month shows that employers are still actively filling open rolls, the slowing in new openings could be one of the first cracks in the armor for the labor market – and the all-important U.S. consumer.”
August 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.