US Job Market Bullish In July
he job market will likely come up with economic indicators
have another strong month that identify early economic
in July 2006 with an trends and changes in the
estimated 58 percent of employers national job market. The report
in the manufacturing and service focuses on four key employment
sectors planning on increased measures, namely, job
hiring, according to the findings expectations, job vacancies,
of a recent study released last new-hire compensation and
July 27. recruitment difficulty.
The leading Indicator of National Employment expectations in the
Employment (LINE), a report that manufacturing sector remain
was jointly authored by the strong for July but are lower
Society for Human Resource than in June. However, the
Management (SHRM) and the Rutgers outlook for July 2006 is still
University School of Management better than in July 2005. The
and Labor Relations, provides an report indicates that the demand
early, accurate indication of for workers is increasingly
changing job market conditions strong, with more vacant
and is closely attuned with the positions for both exempt and
regular report of the Bureau of nonexempt staff. However, HR
Labor Statistics. The report executives say that they are
surveyed Human Resources in 500 having a difficult time finding
manufacturing and 500 service and recruiting qualified workers
companies. with the required skills. Despite
this apparent shortage of
The report relies on extensive available workers, there are no
surveys of Human Resources plans to increase new-hire
executives in manufacturing and compensation.
service sector corporations to
In the service industry, a
reported 58% of employers plan to The Society for Human Resource
expand their labor force over in Management (SHRM) is the world's
July 2006, a figure which is largest association devoted to
actually down from 66 percent in human resource management.
June, but still a strong Representing more than 210,000
indicator of an expansionary job individual members, the Society's
market. Close to a third of mission is both to serve human
employers reported an increasing resource management professionals
number of vacancies that they are and to advance the profession.
actively trying to fill and about Founded in 1948, SHRM currently
21 percent said it was getting has more than 500 affiliated
harder to find qualified workers. chapters within the United States
This reflects a five percent and members in more than 100
increase from June. countries.
About the Author:
Jonathon Hardcastle writes articles on many topics including Employment, Business, and Finance
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