Today the Society for Human Resources Management (SHRM) released the Leading Indicators for National Employment (LINE) with predictions of steady hiring and moderate recruiting difficulty during February 2014. The LINE report predicts increased hiring in the service sector during February with slight hiring in the manufacturing sector. There were 47.4% of manufacturers that expect to add jobs with 44.8% in the service sector that will add jobs.
The LINE report also looks at the recruiting efforts from the previous month of January. Human Resources departments continue to have difficulty finding candidates for key positions. Difficulty in recruiting key candidates for jobs decreased in both manufacturing and services sectors in January. In January there were fewer job vacancies in manufacturing while service sector jobs increased compared to a year ago.
The LINE Report reflects on new hire compensation from the previous month. Compensation is considered an important factor since it is used to attract or retain new employees. January new hire compensation for manufacturing sector fell and service sector compensation increased slightly compared to a years ago. Generally companies in both sectors are keep new hire compensation flat.
To view the full report go to LINE Employment Report for February 2014.
The LINE report is published by SHRM and is the only report that projects hiring expectations for the upcoming month. This report is released a month ahead of the US Department of Labor, Bureau of Labor Statistics (BLS) Employment Situation Report and has shown a high degree of accuracy when compared to the BLS report. The LINE report is compiled by surveying 500 Human Resource departments in the manufacturing sector and 500 Human Resources departments in the service sector if they plan to add workers during the month. Combined these two sectors employ 90% of the country's private sector work force. The next LINE report will be published March 6, 2014 with predictions of hiring activity for March.
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