SHRM Report Forecasts Employment Growth in Manufacturing and Service Sectors, Reflecting Hound.com Data

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The SHRM predicted a 7 percent growth in manufacturing hiring and 12.2 percent growth in service-sector hiring, based on the results from its monthly employer survey of the two sectors. The report reflected the current hiring trends found on Hound.com.

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There is a skills gap between those currently being trained and entering the labor force and the need for more experienced workers; leading to a strong demand for workers with experience in the manufacturing and service-sector industries.

In its latest survey, the Society for Human Resource Management found that 47.2 percent of manufacturers and 33.1 percent of service-sector companies expect to add jobs in February. The report forecasts a strong month for employment growth for the manufacturing and service industries, mirroring current hiring trends found on Hound.com.

The Society for Human Resource Management (SHRM) released its Leading Indicators of National Employment (LINE) survey for February 2013. Its report forecast a 7 point leap in hiring for manufacturing and a 12.2 percent jump in service sector hiring. Its monthly report surveyed 500 manufacturing and 500 service-sector companies and assessed employers’ hiring expectations, job vacancies, new-hire compensation, and difficulty in recruiting top-level talent. If the SHRM’s survey is predictive, February hiring in manufacturing is expected to reach a four-year high for that month. Of the manufacturing companies surveyed by SHRM, 47.2 percent intend to expand employment this month. The LINE employment report has traditionally been used as an early predictor of the Bureau of Labor Statistics job report.

The SHRM reflected current hiring trends on Hound.com, a leading job site. Recruitment by manufacturing employers has been going on through the end of 2012 and going into 2013, spurred on by a rebounding housing market and rising home prices. As of the time of this release, 27,054 jobs in manufacturing were currently listed on the site, with February promising to be another strong month in hiring. Hound has similarly seen stronger growth in service-sector jobs. Professional service jobs such as accounting have started to come back thanks to the spike in business from new start-ups and a continually-improving financial sector. There were 76,588 openings in accounting at the time of this release, and 108,918 jobs in financial services overall. This is an astounding number, considering the severe contraction of the market just a few short years ago.

“It has been encouraging to see so many jobs come back into the picture as the economy is starting to improve,” said Harrison Barnes, CEO of Hound.com. “Many people have left these sectors during the recession, when there were no jobs available. Now there is a bit of a skills gap between those currently being trained and entering the labor force and the need for more experienced workers. As a result, there really is a strong demand for workers with experience in the manufacturing and service-sector industries, and employers are scooping them up when they come across them.”

About Hound

Hound.com is a job search site based in Pasadena, CA. It is a part of the Employment Research Institute and owned by A. Harrison Barnes.

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Andrew Ostler
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