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Learn moreHOLMDEL, N.J. [January 7, 2019] – U.S. employers closed out 2019 with a dip in new hires, but modest growth in net new job openings, according to iCIMS’ Monthly Hiring Indicator (MHI). Before seasonal adjustments, new hires declined 8.4% and new job openings saw modest growth with a 0.8% increase. After factoring in seasonal adjustments, new hires declined 3.4% and job openings increased 0.4%. December typically shows a slowing in hires and job growth, but the declines in December 2019 were smaller than usual.
The MHI is a leading economic indicator published by iCIMS, drawing upon its database of more than 75 million applications, 4 million hires and 3 million jobs each year. New hires translate directly into payroll growth, after netting out departures, layoffs and other separations.
“Despite this year’s compressed holiday schedule, the annual ’December dip’ was the smallest in three years,” said Josh Wright, chief economist at iCIMS. “This was the first December to see a rise in new openings in four years, so it looks like recruiters and hiring managers were trying to get a jump start on 2020. Still, our results support the idea that calendar effects may distort the seasonal adjustments and artificially depress the December employment report.”
December 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.