Holmdel, NJ, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Job openings increased by 11 percent and hires increased by 2 percent in August 2018, on a seasonally adjusted basis, according to the Monthly Hiring Indicator (MHI) produced by iCIMS Inc., a leading provider of cloud-based talent acquisition solutions.
The MHI is based on iCIMS data, which measures user activity within its platform. After netting out layoffs, quits, and other separations, hiring figures translate directly into payroll growth, and openings translate into future hires. Drawing on a database of more than 75 million applications and one million jobs posted per quarter by more than 3,500 customers, iCIMS publishes monthly sets of statistics on hiring activity.
August 2018 Report Highlights
- Openings in manufacturing rose 6 percent but hiring was modestly below the seasonal trend, suggesting that tight labor supply is constricting job growth in this area.
- Hiring was strong in healthcare and education, in line with the August pattern in each of the last two years. Adjusting for the seasonal effect reduced the rise from 12 percent to 2 percent.
- The Midwest region saw the strongest gains in openings – 19 percent after seasonal adjustments – 10 percentage points higher than in any other region.
“The August numbers from our Monthly Hiring Indicator reinforce the message that labor demand remains very strong,” said Josh Wright, chief economist at iCIMS. “With a robust near-term economic outlook and a labor market already grown tight, employers will continue to face pressure to innovate and compete for workers.”
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 one million jobs 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. To learn more about iCIMS’ MHI and the methodology visit iCIMS Hiring Insights.
About iCIMS, Inc.:
iCIMS is the leading provider of talent acquisition solutions that help businesses win the war for top talent. iCIMS empowers companies to manage their entire hiring process within the industry’s most robust Platform-as-a-Service (PaaS). Built on the foundation of a best-to-market talent acquisition software suite, iCIMS’ PaaS framework, UNIFi, allows employers to expand the capabilities of their core talent acquisition technology by integrating with the largest partner ecosystem in talent acquisition to help them attract, find, screen, and manage candidates. Offering scalable, easy-to-use solutions that are backed by award-winning customer service, iCIMS supports more than 3,500 contracted customers and is one of the largest and fastest-growing talent acquisition solution providers.