SHRM LINE: Hiring up, layoffs down in February

In February, hiring rates will increase and layoff rates will fall in 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 February 2014.

February’s hiring picture for the manufacturing and service sectors looks strong — in both sectors, layoff rates will call compared with a year ago and hiring rates will reach four-year highs for the month. More than two out of five manufacturing and service-sector companies will add to their payrolls in February.

A net of 40.4 percent of manufacturers will add jobs in November (49 percent will hire, 8,6 percent will cut jobs). The sector's hiring index will increase by 6.8 points compared with a year ago and reach a four-year high for the month. A net of 34.1 percent of service-sector companies will grow payrolls in November (41.8 percent will hire, 7.7 percent will cut jobs). The index will rise by 0.4 points compared with a year ago. Layoff rates in both sectors will decline compared with a year ago.

A net of 47.4 percent of manufacturers will add jobs in February (52.7 percent will hire, 5.3 percent will cut jobs). The sector’s hiring index will increase by 0.2 points compared with a year ago. A net of 44.8 percent of service-sector companies will grow payrolls in February (51.1 percent will hire, 6.3 percent will cut jobs). The index will rise by 11.7 points compared with a year ago.

The full report can be found here.