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Services to add jobs, manufacturers to cut

February 06, 2009

U.S. service-sector employers plan to add jobs in February, but at a much slower pace than a year ago, according to the leading indicators of national employment report from the Society for Human Resource Management. Manufacturing employers plan to cut more personnel than they hire.

The report's survey found that 26.3% of service-sector employers plan to add staff in February while 22.3% plan to cut staff for a net increase of 4.0%. That compares with a net increase of 37.8% in February 2008.

In the manufacturing sector, employers estimated a net decrease of 30.1% in February. A year ago, manufacturing employers planned for a net increase of 35.4%.

The report is based on a survey of private-sector human resource professionals at more than 500 manufacturing and more than 500 service-sector companies.