SHRM LINE: October hiring rates expected to reach four-year highs for the month

In October, job creation rates will rise in the manufacturing and service sectors compared with a year ago, according to the Society for Human Resource Management’s (SHRM) Leading Indicators of National Employment (LINE) survey for October 2014.

In October, for the seventh straight month, manufacturing hiring will increase when compared with the previous year. For the fifth time in six months, service-sector hiring will also increase when compared with the previous year. Both sectors are expected to reach four-year highs for hiring rates in the month of October.

A net of 45.4 percent of manufacturers will add jobs in October (52.2 percent will hire, 6.8 percent will cut jobs). This net is down 5.1 percent from September’s 50.5 percent. The sector’s hiring index will rise by 3.5 points compared with a year ago.

A net of 40.7 percent of service-sector companies will grow payrolls in October (47.5 percent will hire, 6.8 percent will cut jobs). This net is up considerably from the 29.9 percent last month, and the index will rise by 3.4 points compared with a year ago.

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