Employers Plan to Step Up Hiring in October

September 26, 2006 (PLANSPONSOR.com) - Salaries for new hires may be showing an upturn, as evidenced by the September results of an index that measures job market trends at manufacturing and service-sector firms.

Leading Indicator of National Employment (LINE) – a collaborative effort between the Society for Human Resource Management and Rutgers University School of Management – tracks job expectations, job vacancies, new-hire compensation and recruitment difficulty.

In the manufacturing sector, the human resources (HR) professionals surveyed said that filling job vacancies with skilled workers has proven difficult. However, 57% say they plan to hire in October. The attempt to fill these vacancies by hiking compensation helped to boost the index by 13.9%, according to the survey.

Fewer service sector employers (51%) said they planned to step up hiring in October, saying that they, too, are having difficulty filing vacancies — a further slip from the month before, when 53.2% of service sector employers said they plan to hire (See Manufacturing Hiring Expectations Continue Up, Service Sector Hiring To Fall ).