November Signals a Slowdown in U.S. Hiring and Job Growth

Holmdel, NJ, Dec. 03, 2019 (GLOBE NEWSWIRE) — As 2019 comes to an end, U.S. employers slowed their hiring activity and opened fewer new jobs in November, according to iCIMS’ Monthly Hiring Indicator (MHI). Before seasonal adjustments, new hires declined 14.2% and new job openings declined 14.1% – their largest monthly declines since at least 2015. After seasonal adjustments, the decline in hiring and job openings were 0.1% and 0.6%, respectively. Lower demand for workers was evident across industries, but particularly in retail trade.

Robust Hiring Suggests U.S. Employers Think the Worst is Behind Us

Holmdel, NJ, Nov. 04, 2019 (GLOBE NEWSWIRE) — U.S. employers accelerated their job openings and hiring activity during the month of October, aligning with the rebound in investor sentiment. Before seasonal adjustments, new hires increased 10.2% and new job openings increased 14.7%, according to iCIMS’ Monthly Hiring Indicator (MHI). This contrasts with the federal government’s October payroll report, as workers on strike are not paid and therefore do not appear in payrolls. The MHI is a leading economic indicator published by iCIMS, drawing upon its database of more than 75 million applications and 4 million jobs each year. New hires translate directly into payroll growth, after netting out departures, layoffs and other separations. “Not only was the impact of the auto workers’ strike on payroll reports much smaller than expected, but the underlying pace of hiring held on and even accelerated,” said Josh Wright, chief economist at iCIMS. “The business community seems to be taking some comfort that trade tensions will not boil over and tip the U.S. into recession.”