SHRM LINE: Mixed results for hiring in August compared with previous year

In August, job creation rates will vary compared with a year ago, as fewer service-sector companies plan to grow payrolls and slightly more manufacturers will add jobs. Layoff rates will also vary, as fewer manufacturers will cut jobs and more service-sector employers will conduct layoffs, according to the Society for Human Resource Management’s (SHRM®) Leading Indicators of National Employment (LINE®) survey for June 2016.

A net of 46.7 percent of manufacturers will add jobs in August (52.7 percent will hire, 6.0 percent will cut jobs). The sector's hiring index will increase by 0.3 points compared with a year ago.

A net of 36.9 percent of service-sector companies will conduct hiring in August (45.8 percent will add jobs, 8.9 percent will cut jobs). The index will fall by 7.4 points compared with a year ago.

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