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Recruiting difficulties continued in October for the sixth straight month
ALEXANDRIA, Va. — Hiring activity will reach four-year highs for the month of November in both the manufacturing and service sectors, according to the Society for Human Resource Management’s Leading Indicators of National Employment® (LINE) Report.
November also will mark the eighth straight month that manufacturing hiring will increase when compared with the previous year, LINE predicted.
More than 2 in 5 manufacturers (42 percent) and more than one-third of service-sector companies (37 percent) will add jobs this month—a 1.6-point rise in hiring for manufacturing and a 2.9-point increase for the service-sector industry compared to a year ago.
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 for the same time frame are available from the U.S. Bureau of Labor Statistics.
HR professionals’ recruiting challenges for key positions also reached four-year highs, and increased for the sixth consecutive month when compared to the previous year.
“The positive trend in employment expectations is undoubtedly the reason for the rise in recruiting difficulty for key positions,” explained Jennifer Schramm, manager of workforce trends at SHRM.
In October, more manufacturers also raised pay for new hires compared with a year ago. A net total of 13.6 percent of respondents reported increasing new-hire compensation, an increase of 8.3 points from October 2013. In the service sector, a net total of 8.3 percent of companies increased new-hire compensation in October, down 0.2 points from a year ago.
Still, the index’s overall data shows that most organizations are keeping new-hire compensation relatively flat.
The LINE Report provides a snapshot of month-ahead hiring expectations and examines difficulty in recruiting top-level talent, new-hire compensation and job vacancies. Respondents include HR professionals from private service-sector companies and manufacturing companies. Together, these sectors employ more than 90 percent of U.S. private-sector workers. Media: To read the full SHRM LINE Report, visit shrm.org/line. The third-quarter Jobs Outlook Survey Report is available at shrm.org/jos. Follow SHRM Research on Twitter @SHRM_Research.
The SHRM LINE Report is typically 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.
For more information or an interview with a LINE researcher, contact Vanessa Gray of SHRM Public Affairs at 703-535-6072 or Vanessa.Gray@shrm.org. About the Society for Human Resource Management
Founded in 1948, the Society for Human Resource Management (SHRM) is the world’s largest HR membership organization devoted to human resource management. Representing more than 275,000 members in over 160 countries, the Society is the leading provider of resources to serve the needs of HR professionals and advance the professional practice of human resource management. SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China, India and United Arab Emirates. Visit us at shrm.org and follow us on Twitter @SHRMPress.
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