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Learn more Talk to salesCombine behavior-based marketing automation with AI insights to build talent pipelines, engage candidates with multi-channel marketing campaigns, and automatically surface the right talent for the job.
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Learn moreStreamline your tech stack and take advantage of a better user experience and stronger data governance with ADP and the iCIMS Talent Cloud.
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Learn moreHOLMDEL, N.J. [December 3, 2019] – As 2019 comes to an end, U.S. employers slowed their hiring activity and opened fewer new jobs in November, according to iCIMS’ Monthly Hiring Indicator (MHI). Before seasonal adjustments, new hires declined 14.2% and new job openings declined 14.1% – their largest monthly declines since at least 2015. After seasonal adjustments, the decline in hiring and job openings were 0.1% and 0.6%, respectively. Lower demand for workers was evident across industries, but particularly in retail trade.
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.
“Don’t dismiss the risk of labor market slowdown just yet, but there is a seasonal dynamic at play here,” said Josh Wright, chief economist at iCIMS. “A big portion of this weakness is due to shifts in the retail sector. Our data indicate that retailers were aggressive with holiday hiring – notably for technology roles – earlier in the year. They continue to adapt to the world of e-commerce via in-store deliveries and enhanced in-store experiences.”
November 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 a leading provider of talent acquisition technology that enables organizations everywhere to build winning workforces. For over 20 years, iCIMS has been at the forefront of talent acquisition transformation. iCIMS empowers thousands of organizations worldwide with the right tools to meet their evolving needs across the talent journey and drive business success. Its AI-powered hiring platform is designed to improve efficiency, cut recruiting costs and build exceptional experiences for candidates and recruiters. For more information, visit www.icims.com.