Tuesday, January 25, 2005
Tweet[IWS] SHRM/Rutgers: Leading Indicator of National Employment (LINE") [25 January 2005]
IWS Documented News Service
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Institute for Workplace Studies Professor Samuel B. Bacharach
School of Industrial & Labor Relations Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor Stuart Basefsky
New York, NY 10016 Director, IWS News Bureau
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Leading Indicator of National Employment (LINE") [25 January 2005]
Employment Growth Slows in January
Employment Expectations Jump As More Manufacturers Plan to Hire Over Next 30 Days
http://www.shrm.org/press_published/CMS_011043.asp#P-4_0
(Alexandria, Va., January 25, 2005)Despite open positions in manufacturing, employment growth slowed again in January as the rate of hiring was unable to keep pace with the demand for new workers. The January Leading Indicator of National Employment (LINE") also shows that there is a substantial jump from December in the percentage of manufacturers that plan to hire in the upcoming 30 days. LINE is a monthly employment index jointly produced by the Society for Human Resource Management (SHRM) and Rutgers University.
While job growth has slowed since July 2004, most respondents indicated that manufacturing employment may grow substantially in February. In addition, 40 percent of responding firms reported increases in the number of job vacancies that they are actively recruiting to fill.
A slow hiring process may not be the only reason for a decrease in employment numbers. Other possible factors include ongoing concerns about the fragility of the economic recovery, which may be causing firms to delay the creation of new positions or in filling positions currently open. In addition, the inability to recruit workers with the appropriate skills may be slowing the pace at which firms are able to fill the existing vacancies.
January LINE Results
SHRM/Rutgers LINE" identifies early economic trends and growth in the national job market by surveying HR professionals at manufacturing firms. Data has been collected since February 2004, and it was publicly launched in November. The indicator reports on five employment measures, two of which add to existing indicators and three of which are new and unique to the indicator. An index value above 50 indicates employment is growing, while an index below 50 shows that employment is contracting.
AND MORE...including CHART....
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky *
Director, IWS News Bureau *
Institute for Workplace Studies *
Cornell/ILR School *
16 E. 34th Street, 4th Floor *
New York, NY 10016 *
*
Telephone: (607) 255-2703 *
Fax: (607) 255-9641 *
E-mail: smb6@cornell.edu *
****************************************
_______________________________
Institute for Workplace Studies
School of Industrial & Labor Relations
Cornell University
16 East 34th Street, 4th floor
New York, NY 10016
________________________________________________________________________
Leading Indicator of National Employment (LINE") [25 January 2005]
Employment Growth Slows in January
Employment Expectations Jump As More Manufacturers Plan to Hire Over Next 30 Days
http://www.shrm.org/press_published/CMS_011043.asp#P-4_0
(Alexandria, Va., January 25, 2005)Despite open positions in manufacturing, employment growth slowed again in January as the rate of hiring was unable to keep pace with the demand for new workers. The January Leading Indicator of National Employment (LINE") also shows that there is a substantial jump from December in the percentage of manufacturers that plan to hire in the upcoming 30 days. LINE is a monthly employment index jointly produced by the Society for Human Resource Management (SHRM) and Rutgers University.
While job growth has slowed since July 2004, most respondents indicated that manufacturing employment may grow substantially in February. In addition, 40 percent of responding firms reported increases in the number of job vacancies that they are actively recruiting to fill.
A slow hiring process may not be the only reason for a decrease in employment numbers. Other possible factors include ongoing concerns about the fragility of the economic recovery, which may be causing firms to delay the creation of new positions or in filling positions currently open. In addition, the inability to recruit workers with the appropriate skills may be slowing the pace at which firms are able to fill the existing vacancies.
January LINE Results
SHRM/Rutgers LINE" identifies early economic trends and growth in the national job market by surveying HR professionals at manufacturing firms. Data has been collected since February 2004, and it was publicly launched in November. The indicator reports on five employment measures, two of which add to existing indicators and three of which are new and unique to the indicator. An index value above 50 indicates employment is growing, while an index below 50 shows that employment is contracting.
AND MORE...including CHART....
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
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# posted by SBasefsky : 4:29 PM
