The Upjohn Institute New Hires Quality Index fell 0.2 percent between May and June to $21.32, down 0.8 percent from a year ago but still up 2.3 percent since the start of the pandemic. Hiring volume fell 1.1 percent.
In this month’s news release, index creator Brad Hershbein examines the hiring trends of two U.S. regions: the Midwest and the South. Looking at wages, he finds that “Over the past six months, the wage index in the Midwest has dropped 1.3 percent—the sharpest on record—while that for the South has ticked up 0.3 percent. Put differently, since the start of COVID, earnings power of new hires is up 3.1 percent for the South, versus just 1.9 percent for the Midwest. Consequently, the gap between the two is at an all-time high.”
Read the full release or explore the index.
How to use the New Hires Quality Index:
- Video Tutorial with Brad Hershbein
- Index FAQ (Page 5 of the release)