Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Benefits November 23, 2004
Positive Manufacturing Job Growth Seen in November
November 23, 2004 (PLANSPONSOR.com) - November
economic indicators from the Society for Human Resource
Management (SHRM) point to positive manufacturing job growth
that looks to extend into December.
Reported by Kip McDaniel
The Leading Indicator of National Employment (LINE) data from SHRM shows that more manufacturers were hiring in November than in the previous month. However, the hiring pace for manufacturers was slower than was seen in the summer months. Fewer manufacturers experienced increases in vacant positions than in previous months, which SHRM states is a sign that there is no major shift in the balance between labor supply and demand. The number reporting increased vacancies is still double the percent reporting a decrease, according to the company.
It has not gotten any harder over the past six months to fill vacant positions with highly qualified applicants, according to HR professionals polled by SHRM. This is an indication that the job market has not tightened, according to SHRM. New hire compensation has not changed in that time period either, according to the HR professionals. There is also no evidence of wage inflation among manufacturing firms polled.
The outlook for December is also rosy, with most HR professionals still optimistic that hiring will remain strong in the coming month.
A copy of the November report is available at www.shrm.org/line .