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Hiring rates in the U.S. service and manufacturing sectors look strong this month, according to the leading indicators of national employment report released today by the Society for Human Resource Management. Workforce expansion rates are higher for this month than for the past three Februarys.
The report’s survey found that 51.1 percent of service-sector companies plan to hire in February while 6.3 percent plan to reduce their workforces for a net increase of 44.8 percent, up from a net increase of 33.1 percent in February 2013.
Among manufacturing employers, 52.7 percent plan to add staff in February and 5.3 percent plan to cut their workforces for a net increase of 47.4 percent, up slightly from a net increase of 47.2 percent in February 2013.
The report is based on a survey of human resource executives at more than 500 manufacturing and 500 service-sector firms.