ALEXANDRIA, Va. — The Society for Human Resource Management (SHRM) said today in its Leading Indicators of National Employment® (LINE) report that the pace of hiring in the manufacturing and service sectors will increase in November compared with a year ago.
“Hiring expectations look fairly steady with the highest net hiring rates for November in both sectors in four years,” said Jennifer Schramm, manager of workforce trends and forecasting at SHRM.
A net of 40.4 percent of manufacturers and a net of 34.1 percent of service-sector companies will add jobs in November, the report said.
The SHRM LINE report, based on a survey of human resource professionals, predicts employment activity for the coming month, about 30 days before statistics on employment are available from the U.S. Bureau of Labor Statistics.
“These improvements in employment conditions could be leading to increased recruiting difficulty,” Schramm said. “The recruiting difficulty index also reached four-year highs in both sectors for the month of October.”
A net of 18 percent of manufacturing respondents had more difficulty with recruiting in October, an increase of 6.1 points from October 2012. A net of 17.4 percent of service-sector HR professionals had more difficulty recruiting in October, up 5.9 points from a year ago.
The LINE report is consistent with other SHRM research in showing that many HR professionals are having difficulty recruiting and hiring employees with the necessary job-specific skills.
The LINE report provides a human resource snapshot of month-ahead hiring expectations and examines new-hire compensation, difficulty in recruiting top-level talent and job vacancies. Respondents include HR professionals from 500 private service-sector companies and 500 manufacturing companies, which together employ more than 90 percent of U.S. private-sector workers.
Despite the findings for November, job vacancies saw almost no change in October compared with a year ago. “As a result,” Schramm noted, “the LINE new-hire compensation index shows that most organizations are still keeping compensation offerings for new hires flat.”
Media: To read the full SHRM LINE report, visit www.shrm.org/line. Follow SHRM Research on Twitter @SHRM_Research. The SHRM LINE report is released at 8:30 a.m. Eastern time on the first Thursday of each month. The SHRM employment expectations index describes the same time period referenced a month later by the Bureau of Labor Statistics’ Employment Situation Report. November’s report was released a week earlier than usual because of an anticipated earlier release of the BLS report.
For more information or an interview with a LINE researcher, contact Kate Kennedy of SHRM Public Affairs at 703-535-6260 or Kate.firstname.lastname@example.org.
About the Society for Human Resource Management
The Society for Human Resource Management (SHRM) is the world’s largest association devoted to human resource management. Representing about 260,000 members in more than 140 countries, the Society serves the needs of HR professionals and advances the interests of the HR profession. Founded in 1948, SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China, India and the United Arab Emirates. Visit SHRM Online at www.shrm.org and follow us on Twitter @SHRMPress.