INDUSTRY NEWSManufacturing Hiring to Drop,
Service Sector Hiring Rises
ALEXANDRIA, VA (Sept. 13, 2007) - Manufacturing hiring will be much weaker in September 2007 compared with a year ago, while service-sector hiring will be slightly stronger. This forecast is based on the Leading Indicator of National Employment (LINE) index, a collaborative effort between the Society for Human Resource Management (SHRM) and the Rutgers University School of Management and Labor Relations. The index forecasts a 30 percent drop in hiring and 6.7 percent increase in service-sector hiring for September 2007, compared to September 2006. The index is an economic indicator that forecasts changes in the national job market by surveying human resource executives at more than 1,000 manufacturing and service-sector firms. The indicator reports on four employment measures: job expectations, job vacancies, new-hire compensation and recruitment difficulty. LINE provides an early indication of the Bureau of Labor and Statistics (BLS) numbers, released five weeks later.
ALEXANDRIA, VA (Sept. 13, 2007) - Manufacturing hiring will be much weaker in September 2007 compared with a year ago, while service-sector hiring will be slightly stronger. This forecast is based on the Leading Indicator of National Employment (LINE) index, a collaborative effort between the Society for Human Resource Management (SHRM) and the Rutgers University School of Management and Labor Relations. The index forecasts a 30 percent drop in hiring and 6.7 percent increase in service-sector hiring for September 2007, compared to September 2006. The index is an economic indicator that forecasts changes in the national job market by surveying human resource executives at more than 1,000 manufacturing and service-sector firms. The indicator reports on four employment measures: job expectations, job vacancies, new-hire compensation and recruitment difficulty. LINE provides an early indication of the Bureau of Labor and Statistics (BLS) numbers, released five weeks later.
The LINE employment expectations index, in red, has a strong leading indicator correlation with the BLS numbers, which are released five weeks later.
(Source: SHRM)
