Job hunters and market watchers can expect three in 10 companies in the services and manufacturing sectors to hire workers in October, according to a report from the Society for Human Resource Management (SHRM).
SHRM'S Leading Indicators of National Employment report indicates that year-over-year hiring will be up by 4.9 points in the services sector and up by 4.2 points in manufacturing.
The forward-looking SHRM report is issued on the first Thursday of the month. Another widely used metric, the Employment Situation Report from the Bureau of Labor Statistics, analyzes hiring trends from the previous month.
Respondents for the SHRM report include HR professionals from 500 service-sector companies and 500 manufacturing companies.
In the manufacturing sector, 49.8 percent of companies plan to hire workers while 15.2 percent will cut jobs, according to the report, for a net of 34.6 percent. The remaining 35 percent plan no hiring or layoffs in October. In services, 40.4 percent of companies will hire while 6.5 percent will cut jobs. The remaining 53.1 percent will hold steady.
"Though more than one in three manufacturers and service-sector companies say they will add jobs in October, the pace of hiring in recent months has not been enough to make much of a dent in the unemployment rate," said Jennifer Schramm, manager of workplace trends and forecasting at SHRM.
On the other hand, 39 percent of HR professionals are "optimistic" and 6 percent are "very optimistic" about job growth during the fourth quarter of 2012, according to the SHRM Jobs Outlook Survey, or JOS, released earlier this week.
According to the JOS, 27 percent are neither optimistic nor pessimistic.
Recruiting workers in the manufacturing sector became more difficult from September 2011 to September 2012, according to the LINE report, while recruiting difficulty fell 3.8 points in the service sector.
In the manufacturing sector, 17.7 percent of HR professionals said it was harder to find workers from September 2011 to September 2012, while 1.6 percent found recruitment to be less difficult. In services, 19.5 percent of HR professionals said recruiting was more difficult, while 11.7 percent found it less difficult during the same period.
"Following the pattern of previous months—and unsurprising given the still slow job market—new-hire compensation didn't budge much in September in either sector," said Schramm.
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