December 6, 2012
In December, hiring activity will be stronger in services than in manufacturing compared with a year ago, according to the Society for Human Resource Management's (SHRM) Leading Indicators of National Employment (LINE) survey for December 2012.
In December, for the fifth consecutive month, the hiring rate will rise in services compared with a year ago. For the first time in five months, the hiring rate will decline in the manufacturing sector compared with a year ago. LINE data have compared favorably with recent reports from the U.S. Bureau of Labor Statistics (BLS). Professional and business services, as well as retail trade, have posted sizable job gains in the past few months, according to the BLS.
A net of 25.3 percent of manufacturers will add jobs in December (38.9 percent will hire, 13.6 percent will cut jobs). The sector’s hiring index will fall in December on a year-over-year basis by a net of 3.8 points. A net of 34 percent of service-sector companies will grow payrolls in December (43.3 percent will conduct hiring, 9.3 percent will cut jobs), and the service hiring index will rise by 12.2 points compared with a year ago. That is the highest net level of hiring for services in December in the past four years.
The full report, which also includes data for recruiting difficulty, new-hire compensation, and vacancies, can be found here.