According to a report from the Society for Human Resource Management, January 2012 is expected to mark the third consecutive month that hiring decreases while job cuts rise.
From January 2012 to January 2011, the SHRM LINE Report finds that annual service sector hiring is believe to be cut by a net of 15.4 points, and manufacturing sector hiring is expected to fall by a net of 4.4 points.
"While overall, more employers are planning to hire than lay off staff this month, the net employment expectations are lower compared with January 2011," says Jennifer Schramm, GPHR, and manager of workplace trends and forecasting at SHRM. More growth is needed to continue to bring down the unemployment rate."
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The service sector also shows that a net of 6.1 percent of respondents anticipate adding jobs in January 2011 compared to a net of 21.5 percent that did so in 2011 while the manufacturing sector shows a net of 25.3 percent of companies reporting plans to hire in January compared to 29.6 percent in 2011.
In previous months, the SHRM LINE Report reveals that the recruiting-difficulty index for December 2011 was slightly higher than 2010, but new-hire compensation was mostly stagnant.
Regarding recruiting difficulty, the report finds that a net of 11.6 percent of HR professionals in manufacturing companies are still having trouble filling key positions during December. This marks a 2.9-point increase from the previous year. Among the service sector, a net of 9.1 percent of respondents say they experience recruiting difficulty for the month of December, which was a 5.8 percent increase from last year. These figures are the highest net of recruiting difficulty over four years during December.
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