U.S. hiring gains are expected to be slow in July 2012 in comparison to this time in 2011, according to a report from the Society for Human Resource Management.
The report also reveals that manufacturing-sector hiring is believed to slightly grow by a net of two points while a drop in service-sector hiring is anticipated by a net of 17.4 points from July 2011.
In fact, in the manufacturing sector, 44.7 percent of respondents say they plan to hire workers, and 8 percent expect to reduce the work force for a positive net of 36.7 percent. The other 63.3 percent say they have no plans for layoffs or hiring.
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Among service-sector respondents, 28.8 percent say they intend to hire while 4.7 percent expect to cut staff for a hiring net of 24.1 percent. The rest of the 75.9 percent respondents do not anticipate staffing changes in July.
"Although the service sector's year-over-year change shows a sharp drop, the manufacturing sector shows a positive if only slightly better outlook," says Jennifer Schramm, GPHR, and manager of workplace trends and forecasting at SHRM.
According to the most recent recruiting-difficulty index data in June 2012, there was little change on annual basis, and it remained mostly flat. Despite that, the 4.9 point net increase on an annual basis in manufacturing new-hire compensation represents the highest net in four years for June.
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