The Society for Human Resources Management (SHRM) released the Leading Indicators for National Employment (LINE) yesterday with predictions of few layoffs and steady job growth during November 2013. The LINE report predicts the strongest November hiring in 4 years with expectations that 40% of manufacturing and 34% of service sectors surveyed expect to add jobs.
The LINE report also looks back on the recruiting efforts from the previous month of October. Along with increased hiring, Human Resources departments continue to have difficulty finding candidates for key jobs. Many Human Resources departments identify there is a shortage of skilled workers. The LINE Report also 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. October new hire compensation for manufacturing was unchanged and increased slightly for the services sector.
To view the full report go to LINE Employment Report for NOVEMBER 2013.
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 December 5, 2013 in anticipating hiring activity for December.
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