SHRM LINE: Manufacturing, service sector hiring rates to increase in May compared with a year ago

In May 2017, employment will grow at 62.4 percent of manufacturing firms and decline at 6.8 percent. The resulting net increasing index of 55.6 (62.4 - 6.8) suggests faster employment growth in manufacturing than in May 2016 (48.1).

In May 2017, employment levels will grow at 57.0 percent of service-sector firms and decline at 6.6 percent of firms, producing a net increasing index of 50.51 (57.0 - 6.6), which suggests more robust service-sector employment growth than in May 2016 (47.1). The higher employment expectations index in services suggests that in May 2017 employment growth in this sector will be higher than the 17,000 service jobs that were added in May 2016.

Compared with April of last year, in April 2017 the recruiting difficulty index rose by 3.6 points in the manufacturing sector and declined by 5.9 points in the service sector.

In the manufacturing sector, 18.3 percent of firms reported raising new-hire compensation in April 2017 compared with 21.7 percent in April 2016. Similarly, in the service sector, 20.2 percent of firms reported raising new-hire compensation in April 2017 compared with 15.3 percent in April 2016.

The full report can be found here.