November and December surveys indicate hiring in both service and manufacturing sectors has increased when compared to the previous year, according to the Society for Human Resource Management’s (SHRM) Leading Indicators of National Employment (LINE) survey.
In November, both the service and manufacturing sectors saw significant increases compared with 2012. A net of 34.1 percent of service-sector companies expanded payroll in November, and a net of 40.4 percent of manufacturers added jobs.
“Our survey shows the highest net hiring rates of November in both sectors in four years,” said Jennifer Schramm, manager of the SHRM’s workforce trends and forecasting, in late October upon interpreting the survey information for November 2013.
While December projections for service-sector hiring were not as bright – it is the first month since July 2012 that hiring will not increase compared to the previous year – manufacturing job creation continued to increase compared with a year ago.
The LINE report not only examines employers’ hiring expectations, but also new-hire compensation, difficulties in recruiting top-level talent and job vacancies.
Results indicated a net of 18 percent of manufacturing respondents had a tougher time recruiting in October, an increase of 6.1 points from the previous year. And a net of 17.4 percent of service-center HR professionals found recruiting more challenging, up 5.9 points from a year ago.
This trend continued with the following month’s LINE report. In November, a net of 13.6 percent of manufacturing respondents had difficulty recruiting, an increase of 0.2 points from the previous year. And a net of 18.7 percent of service-sector HR professionals had more trouble recruiting, up 8.5 points from 2012.
Schramm noted in November that “new-hire compensation also inched up slightly in both sectors, suggesting that employers are starting to feel at least some pressure to increase the compensations packages on offers for hear-to-fill positions.”