Yesterday the Society for Human Resources Management (SHRM) released the Leading Indicators for National Employment (LINE) with predictions of strong hiring in manufacturing sector in May. Hiring in manufacturing is expected to be at a four year high. The service sector hiring is expected to reach a three year high. In May layoffs should decline in both service sector and manufacturing sector.
The LINE report also looks at the recruiting efforts from the previous month of April. 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. Only a few manufacturing sector and service sector employers increased pay for new hires. When hiring rates improve typically compensation increases as well.
To view the full report go to LINE Employment Report for May 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 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. Combining these two sectors employs 90% of the country's private sector work force. The next LINE report will be published June 5, 2014 with predictions of expected hiring activity for the month of June.
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