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Manufacturing and nonmanufacturing employment is expected to rise just more than 1 percent in 2012, according to the Institute of Supply Management's semiannual economic forecast, released today. Manufacturers expect employment to rise 1.3 percent in 2012, while executives in the nonmanufacturing sector expect employment to rise 1.1 percent.
Meanwhile, survey respondents expect labor and benefits costs to rise 2.4 percent in the manufacturing sector and 1.8 percent in nonmanufacturing next year.
Fifty-eight percent of non-manufacturing supply management executives expect their 2012 revenues to be greater than in 2011; 69 percent of manufacturers expect revenue increases.