Earlier this week the Society for Human Resources Management (SHRM) released the Leading Indicators for National Employment (LINE) with predictions of strong hiring in manufacturing sector for the month of July. Hiring in manufacturing and service sectors did well in June and is expected to continue at a four year high. Among Manufacturing Sector HR departments surveyed over half (53.2%) expect to net hire during the month. While Service Sector HR departments surveyed a net hiring of 49.2% planning to hire in July.
The LINE report also looks at the recruiting efforts from the previous month of June. 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. September 2013 SHRM survey of high tech companies found 82% recruiting difficulty.
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 July 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 July 31, 2014 with predictions of expected hiring activity for the month of August.
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