November 3, 2011
The U.S. labor market's struggles will continue in November, as job creation will slow and job cuts will rise in the manufacturing and service sectors compared with a year ago, according to the Society for Human Resource Management's (SHRM) Leading Indicators of National Employment (LINE) survey for November 2011.
The manufacturing hiring index will fall in November on a year-over-year basis by a net of 1.2 points (a net of 27.3 percent of companies will hire in November, compared with a net of 28.5 percent that added jobs a year ago). Service-sector hiring will decrease in November by a net of 9.8 points (a net of 17.3 percent will add jobs, compared with a net of 27.1 percent that added jobs a year ago).
The LINE results for November 2011 reflect an ongoing trend of subpar growth in job creation. Recent federal data supports these findings: from April to September, payroll employment increased by an average of just 72,000 jobs per month, compared with an average of 161,000 for the prior seven months, according to the BLS.
The full report, which also includes data for recruiting difficulty, new-hire compensation, and vacancies, can be found here.
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