Manufacturing jobs climb, wage increases slow

U.S. manufacturing employers had an easier time filling key positions in August. However, the growth in new hire compensation slowed and employers' expectations for future hiring dropped below what they were in September of 2004, according to new numbers from the Leading Indicator of National Employment (LINE™), released by the Society for Human Resource Management (SHRM) and the Rutgers University School of Management and Labor Relations.

Overall employment in the manufacturing sector recovered from an August dip. Such a rise in job numbers in the sector runs counter to the usual pattern in which manufacturing typically adds fewer jobs in September than in August.

Employment expectations also declined to the lowest level since January. The LINE data suggests that the manufacturing job market was stronger in September than in August, but may soften slightly in October.

The overall September 2005 LINE index (61.5) is below the September 2004 level (62.2). The September manufacturing employment index (61.4) is up from last month (58.4) and unchanged from a year ago. The September new hire compensation index (53.8) is down from last month (55.9) and down from a year ago (54.6).