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Firms pull back on August hiring plans

July 22 2008

Hiring expectations for August are down in both the manufacturing and service sectors compared with the same period last year, according to the leading indicators of national employment (LINE) report from the Society for Human Resource Management and Rutgers University.

The report's survey found that 38.4% of manufacturers plan to add staff in August while 15.9% intend to make cuts for a net increase of 22.5%. That's down from the projected increase of 47.3% at this time last year.

In the service sector, employers projected a net employment increase of 19.7% for August, down from 47.1% at this time last year.


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