There’s good news and bad news regarding September hiring insights, recently released by iCIMS. The good news is for jobseekers as the number of job openings rose to 0.8%. While the number of new hires also increased, the bad news for employers is the struggle remains for finding talent.
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According to iCIMS Monthly Hiring Indicator (MHI), which measures job openings and new hires based on iCIMS system data, job openings increased by 0.8% and hires increased by 0.1% in September 2018, on a seasonally adjusted basis.
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 hires per quarter by more than 4,000 customers, iCIMS publishes monthly sets of statistics on hiring activity. Key insights into the September report are included, below:
- Hiring was soft in retail trade—down a seasonally adjusted 5%—suggesting that weakness in this sector is set to continue, even as it grapples with challenges in recruiting seasonal workers.
- Manufacturers’ hiring activity was little changed from trend—up a seasonally adjusted 2%—suggesting that trade tensions have yet to dampen spirits in this sector. Payrolls in manufacturing should hold steady, and any weakness should remain contained. If anything, hiring activity appears smoother than in the last few years.
- The Midwest region saw the strongest gains in hires—1% after seasonal adjustments, versus declines of 2% in the West and the South, and zero growth in the Northeast.
“Our Monthly Hiring Indicator saw a cool September, as it has in each of the prior two years, but nothing to suggest a major swing in labor market momentum,” said Josh Wright, Chief Economist at iCIMS. “We appear to be months away from any serious moderation in job growth, and recruiting will remain a struggle for employers.”