Earlier this week the Society for Human Resources Management (SHRM) released the Leading Indicators for National Employment (LINE) with predictions of fewer job cuts and varying trends in hiring and recruiting difficulty during January 2014. The LINE report predicts increased hiring for the service sector during January with hiring declines in the manufacturing sector. The Service sector will be hiring compared to a year ago. While manufacturing will not be adding jobs, layoffs in this sector are not expected. Only 26.7% of Manufacturers plan to add jobs in January this is decline compared to January 2013.
The LINE report also looked at the recruiting efforts from the previous month of December with expected hiring. Human Resources departments continue to have difficulty finding candidates for key jobs. Many Human Resources departments identify there remains a shortage of talent. 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. December new hire compensation for manufacturing sector and service sector only increased slightly compared to a years ago.
To view the full report go to LINE Employment Report for January 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 February 11, 2014 with predictions of hiring activity for February.
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