LINE survey: Hiring rate rises in November for fourth consecutive month

In November, more HR professionals in the manufacturing and service sectors say their organizations will be hiring compared with a year ago, according to the Society for Human Resource Management's (SHRM) Leading Indicators of National Employment (LINE) survey for November 2012.

The LINE results for November 2012 reflect an ongoing trend of steady job growth each month. In November, for the fourth consecutive month, the hiring rate will rise in manufacturing and services compared with a year ago. This compares favorably with recent Bureau of Labor Statistics (BLS) data. For the July-September timeframe in 2011, employers added an average of 127,000 jobs per month, according to BLS. During that same period in 2012, preliminary BLS numbers show an average monthly gain of 145,000 jobs per month.

A net of 33.6 percent of manufacturers will add jobs in November (45.7 percent will hire, 12.1 percent will cut jobs). The sector’s hiring index will rise in November on a yearover-year basis by a net of 6.3 points. A net of 33.7 percent of service-sector companies will add jobs in November (43.7 percent will conduct hiring, 10 percent will trim payrolls), and the service hiring index will rise by 16.4 points compared with a year ago. The layoff rate will fall in both sectors in November compared with a year ago.

The full report, which also includes data for recruiting difficulty, new-hire compensation, and vacancies, can be found here.