| The job market will likely have another strong month in | | | | and recruitment difficulty. |
| July 2006 with an estimated 58 percent of employers | | | | Employment expectations in the manufacturing sector |
| in the manufacturing and service sectors planning on | | | | remain strong for July but are lower than in June. |
| increased hiring, according to the findings of a recent | | | | However, the outlook for July 2006 is still better than in |
| study released last July 27. | | | | July 2005. The report indicates that the demand for |
| The leading Indicator of National Employment (LINE), a | | | | workers is increasingly strong, with more vacant |
| report that was jointly authored by the Society for | | | | positions for both exempt and nonexempt staff. |
| Human Resource Management (SHRM) and the | | | | However, HR executives say that they are having a |
| Rutgers University School of Management and Labor | | | | difficult time finding and recruiting qualified workers with |
| Relations, provides an early, accurate indication of | | | | the required skills. Despite this apparent shortage of |
| changing job market conditions and is closely attuned | | | | available workers, there are no plans to increase |
| with the regular report of the Bureau of Labor | | | | new-hire compensation. |
| Statistics. The report surveyed Human Resources in | | | | In the service industry, a reported 58% of employers |
| 500 manufacturing and 500 service companies. | | | | plan to expand their labor force over in July 2006, a |
| The report relies on extensive surveys of Human | | | | figure which is actually down from 66 percent in June, |
| Resources executives in manufacturing and service | | | | but still a strong indicator of an expansionary job |
| sector corporations to come up with economic | | | | market. Close to a third of employers reported an |
| indicators that identify early economic trends and | | | | increasing number of vacancies that they are actively |
| changes in the national job market. The report focuses | | | | trying to fill and about 21 percent said it was getting |
| on four key employment measures, namely, job | | | | harder to find qualified workers. This reflects a five |
| expectations, job vacancies, new-hire compensation | | | | percent increase from June. |