Broad-based growth led by financial services and manufacturing sectors, according to the iCIMS Monthly Hiring Indicator
HOLMDEL, N.J. [May 2, 2019] – The U.S. labor market continues to look strong, with new hires across most sectors, regions and cities. New hires rose 1.7% and new job openings were even stronger, with a 13.8% rise on a seasonally-adjusted basis in April, according to iCIMS’ (MHI). The continuing rise in hires and job openings is likely to increase wage pressures, as employers compete for workers in the already-tight labor market.
The MHI is a leading economic indicator published by iCIMS, drawing upon its database of more than 75 million applications and 4 million hires each year. New hires translate directly into payroll growth, after netting out departures, layoffs and other separations.
April 2019 U.S. New Hires and Openings Highlights:
“The iCIMS Monthly Hiring Indicator for April shows another month of healthy hiring growth,” said Josh Wright, chief economist at iCIMS. “There are little or no signs of the labor market losing steam, despite the bumpiness in other areas of the economy. Regardless of tame inflation, it is going to be increasingly costly to find and hire people, whether via the recruiting efforts to find good candidates or the wages needed to get them in the door.”
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 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.