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Leading talent acquisition platform provider leverages proprietary data at scale to present advance signals of labor market trends
HOLMDEL, N.J. [April 3, 2018] – iCIMS Inc., a leading provider of cloud-based talent acquisition solutions, announced today the launch of its Monthly Hiring Indicator, which measures job openings and new hires, based on iCIMS system data.
Drawing on a database of more than 61 million applications and three million jobs posted per year by more than 3,500 customers, iCIMS will publish monthly sets of statistics on hiring activity. While iCIMS supports employers across the globe, the Monthly Hiring Indicator is based on U.S. hiring activity only.
iCIMS will release the Monthly Hiring Indicator on the Tuesday ahead of the monthly Employment Situation Report by the U.S. Bureau of Labor Statistics (BLS), providing an early and all-encompassing view of what’s happening in the U.S. labor market, as it relates to the month-over-month percentage change of job openings and new hires.
iCIMS customers represent a broad swath of the U.S. economy, with expansive geographic, industry and occupational representation. iCIMS customers hire significant volumes of both white-collar and blue-collar occupations – including executives, middle managers, lawyers, cashiers and truck drivers among many others.
“The Monthly Hiring Indicator is an advance signal of U.S. hiring activity and job growth, based on a painstakingly tested set of iCIMS proprietary data, and we’ll be publishing it ahead of most major labor indicators,” said Josh Wright, iCIMS chief economist. “Combining breadth of coverage and timeliness of release, our data should be valuable to job-market watchers of all stripes: economists, journalists and HR professionals and business leaders. In addition to trends in job growth, our data can shed light on the hiring process itself – a subject that has traditionally suffered from a lack of data – and the way firms and workers find each other.”
To learn more about the Monthly Hiring Indicator and view iCIMS’ March report, please visit iCIMS Hiring Insights.
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.