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SHRM Report: May 2013 Hiring Up Slightly, Wages Flat
 

   5/2/2013
  SHRM Report: May 2013 Hiring Up Slightly, Wages Flat

ALEXANDRIA, Va. — May 2, 2013 – The manufacturing and service sectors are expected to increase hiring in May 2013 compared to one year ago, according to a report from the Society for Human Resource Management (SHRM).

In the manufacturing sector, 52.3 percent of companies will hire, while 9.4 percent will trim payrolls—leaving a hiring net of 42.9 percent. The remaining 38.3 percent expect to hold steady with no hiring or layoffs in May 2013.

In the service sector, 46.5 percent of HR professionals said their company plans to hire workers, while 9.4 percent will cut jobs—leaving a positive net of 37.1 percent. The remaining 44.1 percent expect no changes to staffing levels in May 2013.

On an annual basis—comparing May 2013 with May 2012—service-sector hiring will increase by a net of 6.7 points and manufacturing-sector hiring will rise by a net of 2.4 points.

The findings are detailed in the SHRM LINE Report Leading Indicators of National Employment®. The report provides a human resource snapshot of month-ahead hiring expectations. Respondents include HR professionals from 500 private service-sector companies and 500 manufacturing companies.

“Wages are likely to remain flat in May,” said Jennifer Schramm manager of workplace trends and forecasting at SHRM. “Hiring rates are not yet at a level where they are having a significant impact on recruiting difficulty or putting upward pressure on new-hire compensation.” 

The SHRM LINE Report includes the only national monthly employment indices featuring a new-hire compensation index and a recruiting-difficulty index

The new report shows:

  • During April (the most recent month available), a net total of 8 percent of HR professionals in the manufacturing sector said their company increased new-hire compensation packages—up 0.3 points from one year ago;
  • In the service sector, a net total of 7.9 percent of companies increased new-hire compensation during April, down 1.2 points from a year ago;
  • The recruiting-difficulty index for April (also the most recent month available) shows a net of 12.6 percent of manufacturers experienced difficulty filling key jobs, a decline of 3.5 points from one year ago; and
  • A net total of 11.9 percent of service-sector HR professionals reported more recruiting difficulty during April 2013 than in April 2012, an increase of 13.6 points.

Highlights of SHRM LINE year-over-year findings:

Employment Expectations

Manufacturing

Service

In May 2013, the hiring rate will rise slightly in both manufacturing and service sectors compared with a year ago.

+2.4 points

 

+6.7 points

 

Recruiting Difficulty

 

 

In April 2013, recruiting difficulty fell in manufacturing and rose in services compared with a year ago.

-3.5 points

+13.6 points

New-Hire Compensation

 

 

In April 2013, the rate of new-hire compensation was mainly unchanged in both sectors compared with a year ago.

 +0.3 points

 -1.2 points

Source: SHRM Leading Indicators of National Employment

To read the full SHRM LINE Report, visit: http://www.shrm.org/line and click the “Latest LINE Report” button. Follow SHRM Research on Twitter @SHRM_Research.

Media: 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 approximately one month later in the Employment Situation Report issued by the Bureau of Labor Statistics.

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 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 more than 260,000 members in over 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 and India. Visit SHRM Online at shrm.org and follow us on Twitter @SHRMPress

 

 

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