Job openings jump 10% in October, iCIMS reports
Job openings jump 10% in October, iCIMS reports
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Despite a myriad of challenges posed by hurricanes, strikes and political uncertainty, overall job openings across industries jumped 10% in October from September, according to a report by iCims, an applicant tracking system provider. Job applications increased 6%, while hires edged down 1%.
“Our findings show shifts in job applications and openings across key sectors, highlighting both the opportunities and gaps that employers and job seekers must navigate in a dynamic environment,” Rhea Moss, global head of workforce and customer insights at iCims, said in a press release.
However, the report noted activity historically declines as the year winds down in advance of a potential ramp-up for hiring teams in the new year.
In the manufacturing sector, iCims’ data showed low hiring volume through the second half of 2024 so far, down 12% year over year in October. Yet, job openings and applications are both up 12% in the same time period, and the disparity could point to a widening skills gap.
Application patterns also point to jobs in the manufacturing sector shifting to the STEM fields. The five manufacturing occupation types seeing the most growth in applications this year are roles in computer and mathematical, up 46%; architecture and engineering, up 33%; life, physical and social science, up 21%; business and financial operations, up 20%; and production, up 16%.
The two big hurricanes that hit the US this fall impacted both candidate and employer activity in the South, with applications and hires down 3% and 9%, respectively. And Boeing’s seven-week machinist strike may have taken the air out of job seekers’ desire to work in manufacturing, as applications were below the national industry benchmark, the report noted.
Retail employers are seeing more candidates during the holiday hiring period, with applications for retail jobs up 25% year over year in October, according to the report. While hires continued to drop — down 14% month over month — iCims data shows a 13% jump in job openings between September and October 2024.
Meanwhile, hiring for transportation jobs continued to fall in October, down 12% year over year and 2% from September. Applications are down since August and just 2% higher in October than one year earlier.
The report is based on data from the iCims platform.