LINE survey: March hiring rates in manufacturing, services approach four-year high

In March, a net of more than four out of 10 employers will add jobs in both the manufacturing and service sectors, according to the Society for Human Resource Management's (SHRM) Leading Indicators of National Employment (LINE) survey for March 2013.

In March, for the eighth consecutive month, the hiring rate will rise in services compared with a year ago. Hiring will decrease slightly in the manufacturing sector, but nearly half of those surveyed still plan to add jobs in March. LINE data compare favorably with reports from the U.S. Bureau of Labor Statistics (BLS). Several service industries, for example, have posted sizable job gains as of late, according to the BLS.

A net of 49.1 percent of manufacturers will add jobs in March (58 percent will hire, 8.9 percent will cut jobs), nearly matching a four-year high set in March 2012. The sector's hiring index will fall in March on a year-over-year basis by 1.4 points. A net of 42.1 percent of service-sector companies will grow payrolls in March (50.7 percent will conduct hiring, 8.6 percent will cut jobs), the highest level in March since 2010. The service hiring index will rise by 17.4 points compared with a year ago.

The full report, which also includes data for recruiting difficulty, new-hire compensation, and vacancies, can be found here.