SHRM LINE: Hiring expected to decline in manufacturing and services at start of 2016

In January, the hiring rates will fall in manufacturing and services compared with the previous year, according to the Society for Human Resource Management’s (SHRM) Leading Indicators of National Employment (LINE) survey for January 2016.

In January, for the first time in seven months, the hiring rates will fall in both sectors when compared with the previous year. Layoff rates will rise in both sectors when compared with January 2015.

A net of 30.4 percent of manufacturers will add jobs in January (43.2 percent will hire, 12.8 percent will cut jobs). The sector’s hiring index will drop by 6.7 points compared with a year ago.

A net of 21.6 percent of service-sector companies will also conduct hiring in January (38.6 percent will add jobs, 17 percent will cut jobs). The index will fall by 6.4 points compared with a year ago.

The full report, which also covers recruiting difficulty and new compensation trends, can be found here.