January 31, 2013
In February, for the second month in a row, hiring activity will reach a four-year high in manufacturing, according to the Society for Human Resource Management's (SHRM) Leading Indicators of National Employment (LINE) survey for February 2013.
In February, for the seventh consecutive month, the hiring rate will rise in services compared with a year ago, while the hiring rate in the manufacturing sector will increase for the sixth time in seven months. LINE data compare favorably with reports from the U.S. Bureau of Labor Statistics (BLS). Several service industries, for example, have posted sizable job gains as of late, according to the BLS.
A net of 47.2 percent of manufacturers will add jobs in February (56.4 percent will hire, 9.2 percent will cut jobs), a four-year high for the month. The sector’s hiring index will rise in February on a year-over-year basis by a net of 7.0 points. A net of 33.1 percent of service-sector companies will grow payrolls in February (43.5 percent will conduct hiring, 10.4 percent will cut jobs), a percentage that nearly matches a four-year high for hiring reached in February 2011 (a net of 33.2 percent). The service hiring index will rise by 12.2 points compared with a year ago.
The full report, which also includes data for recruiting difficulty, new-hire compensation, and vacancies, can be found here.