SHRM LINE: Manufacturing hiring to drop slightly in April compared to a year ago

In April, the hiring rate will drop slightly in manufacturing and rise modestly in services compared with the previous year, according to the Society for Human Resource Management’s (SHRM®) Leading Indicators of National Employment (LINE®) survey for April 2016.

Layoff rates will drop in both sectors compared with April 2015; in the service sector, the rate of job cuts will reach a four-year low for the month.

A net of 47.6 percent of manufacturers will add jobs in April (54.7 percent will hire, 7.1 percent will cut jobs). The sector’s hiring index will drop by 4.4 points compared with a year ago.

A net of 52.6 percent of service-sector companies will also conduct hiring in April (57.3 percent will add jobs, 4.7 percent will cut jobs), a four-year high for the month. The index will increase by 7.5 points compared with a year ago.

The full report, which also covers recruiting difficulty and new compensation trends, can be found here.