What is it?
The number of people hired in thousands in the calendar month (seasonally adjusted) as defined by the Bureau of Labor Statistics (BLS). The hires rate is the number of hires divided by total employment for the pay period that includes the 12th of the month. i.e. There are 90 people on the payroll of a company and they hired 10 people that month. The hires rate = 10/90 = 11.1%.
Who is interested?
Analysts, High level executives, Human Resources, owner operators
What does it tell me?
The Hires level and rate help measure labor demand and the ability for companies to fill available positions. The absolute level is useful in looking at over time values to see how the labor market is creating and filling jobs. The higher the rate the faster jobs are being created and filled. 3.8% is considered healthy.
Example: A user wants to understand the hires level for manufacturing jobs. They would enter: HIRR.MFTG.