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SHRM LINE: Manufacturing hiring to fall slightly compared to a year ago

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

Layoff rates also will be mixed; more manufacturers will cut jobs and fewer service-sector companies will conduct layoffs compared with February 2015.

A net of 47.5 percent of manufacturers will add jobs in February (55.6 percent will hire, 8.1 percent will cut jobs). The sector’s hiring index will drop by 3 points compared with a year ago.

A net of 36.9 percent of service-sector companies will also conduct hiring in February (48.5 percent will add jobs, 11.6 percent will cut jobs). The index will increase by 0.2 points compared with a year ago.

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