U.S. employers continued to increase their hiring, but new job openings slowed in August. Before seasonal adjustments, new hires increased 13.0% and new job openings increased 8.8%, according to iCIMS’ Monthly Hiring Indicator (MHI). This is the smallest rise in openings before seasonal adjustments that iCIMS has seen during the month of August over the last four years.
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.
“The sky isn’t falling yet,” said Josh Wright, chief economist at iCIMS. “While this month shows that employers are still actively filling open rolls, the slowing in new openings could be one of the first cracks in the armor for the labor market – and the all-important U.S. consumer.”
August 2019 U.S. New Hires and Openings Highlights:
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