The Society for Human Resources Management (SHRM) released the Leading Indicators for National Employment (LINE) last week with predictions of strong hiring during March in the Services sector. The LINE report predicts that employers will continue to add jobs during the month of March.
Overall job growth is expected to be positive for the month of March while hiring in the Manufacturing sector will drop the Service sector will experience offsetting gains. This projected growth of jobs for March is good news and an improvement from the previous year. Recently the Department of Labor, Bureau of Labor Statistics reported the national unemployment rate at 7.7% with the ecomony adding 236,000 jobs in February. Depending on the strength of the March jobs growth the unemployment rate could continue to drop by the end of March. Over the last several months the LINE report has been reflective of the US Department of Labor Bureau of Labor Statistics reporting on job growth.
The LINE report is published by the Society of Human Resource Management (SHRM). It is the only report that projects hiring expectations for the upcoming month and has shown a high degree of accuracy. The full SHRM LINE report may be viewed at: http://www.shrm.org/Research/MonthlyEmploymentIndices/line/Documents/LINE%20March%202013.pdf.
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 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 April 4, 2013.
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