According to the SHRM Leading Indicators of National Employment (LINE) Report for August 2012, hiring will steadily continue in both the manufacturing and serivce sectors for the month of August.
Compared to August 2011, hiring will increase in both sectors. Recruiting difficulty reported in July 2012 rose slightly in both sectors, compared to that of a year ago; 1.2 points in manufacturing and slightly more in service, 4.3 points. The rate of increase for new-hire compensation rose slightly in July in manufacturing, while falling 6.1 points in the service sector.
A net of 40.6 percent of manufacturers will add jobs in August 2012 while 8.4 percent will cut jobs. Also, the manufacturing sector's hiring index will rise in August on a year-over-year basis by a net of 5 points. Similarly, 28.6 percent of service-sector employees will add jobs in August, while 5.2 percent will trim payrolls. The layoff rate will fall in both sectors compared to August 2011.
“A second piece of good news is that this month marks the first time since April 2011 that the year-over-year comparisons for employment expectations showed an increase in both sectors,” said Jennifer Schramm, GPHR, and manager of workplace trends and forecasting at SHRM.
The LINE Employment Report examines four key areas: employers’ hiring expectations, new-hire compensation, difficulty in recruiting top-level talent and job vacancies. It is based on a monthly survey of private-sector human resource professionals at more than 500 manufacturing and 500 service-sector companies. Together, these two sectors employ more than 90 percent of the nation’s private-sector workers.
The SHRM Blog does not accept solicitation for guest posts.