Earlier this week the Society for Human Resources Management (SHRM) released the Leading Indicators for National Employment (LINE) with predictions of hiring rates in August will hit a four year high while recruiting difficult continued in July and employers increased pay for new hires in July.
August job growth looks strong and has been strong during June and July. Manufacturing and Service sectors for the third consecutive month project hiring activity will reach a four year high. Among Manufacturing sector HR departments surveyed over half (50.2%) expect to add jobs during the month. While one third of the service sector companies expect to hire in August. The Service Sector HR departments surveyed expect a net hiring of 35.8% in August.
The LINE report also looks at the recruiting efforts from the previous month of July. Human Resources departments surveyed continue to have difficulty finding candidates for key jobs. Many of these Human Resources departments identify there remains a shortage of talent. The LINE Report also reflects on new hire compensation from the previous month. New hire compensation in both the manufacturing sector and service sector have increased compared with a year ago.
To view the full report go to LINE Employment Report for August 2014.
The LINE report is published by SHRM and has shown a high degree of accuracy when compared to the Department of Labor, Bureau of Labor Statistics Employment Situation report which is published at the end of the month. The LINE report is compiled by surveying 500 Human Resource executives in the manufacturing sector and 500 Human Resources executives in the service sectors. The report asks the Human Resources executives if they plan to add workers during the month. Combined these two sectors employs 90% of the country's private sector work force. The next LINE report will be published September 4, 2014 with predictions of expected hiring activity for the month of August.
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