SHRM LINE: Hiring rate to tick up in manufacturing, services in March

In March, hiring activity in the manufacturing and service sectors is expected to increase compared with a year ago, according to the Society for Human Resource Management’s (SHRM) bLeading Indicators of National Employment (LINE) survey for February 2015.

In March, for the 12th straight month, the manufacturing hiring rate will increase when compared with the previous year. The service-sector hiring rate will also rise slightly when compared with the previous year. The service sector will reach a four-year high for its hiring rate in the month of March; however, layoff rates will also rise in both sectors compared with a year ago.

A net of 44.5 percent of manufacturers will add jobs in March (53.9 percent will hire, 9.4 percent will cut jobs). The sector’s hiring index will rise by 5.2 points compared with a year ago.

A net of 44 percent of service-sector companies will grow payrolls in March (51.2 percent will hire, 7.2 percent will cut jobs). The index will increase by 2.4 points compared with a year ago.

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