SHRM LINE: March manufacturing hiring to fall marginally compared to a year ago

In March, the hiring rate will fall marginally in manufacturing and rise slightly 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 March 2016.

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

A net of 42.6 percent of manufacturers will add jobs in March (53 percent will hire, 10.4 percent will cut jobs). The sector’s hiring index will drop by 1.9 points compared with a year ago.

A net of 48.3 percent of service-sector companies will also conduct hiring in March (55.2 percent will add jobs, 6.9 percent will cut jobs), a four-year high for the month. The service-sector index will increase by 4.3 points compared with a year ago.

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