January 3, 2013
In January, hiring activity will increase in both manufacturing and services compared with a year ago, according to the Society for Human Resource Management's (SHRM) Leading Indicators of National Employment (LINE) survey for January 2013.
In January, for the sixth consecutive month, the hiring rate will rise in services compared with a year ago. For the fifth time in six months, the hiring rate will rise 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 31.2 percent of manufacturers will add jobs in January (42.2 percent will hire, 11 percent will cut jobs), a four-year high for the month. The sector’s hiring index will rise in January on a year-over-year basis by a net of 6.0 points. A net of 21.4 percent of service-sector companies will grow payrolls in January (37.8 percent will conduct hiring, 16.4 percent will cut jobs)—this number nearly matches a four-year high for hiring reached in January 2011 (a net of 21.5 percent). The service hiring index will rise by 15.3 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.