Author: Jonathon Hardcastle

The job market will likely have another strong month in July 2006
with an estimated 58 percent of employers in the manufacturing and
service sectors planning on increased hiring, according to the
findings of a recent study released last July 27.



The leading Indicator of National Employment (LINE), a report that
was jointly authored by the Society for Human Resource Management
(SHRM) and the Rutgers University School of Management and Labor
Relations, provides an early, accurate indication of changing job
market conditions and is closely attuned with the regular report of
the Bureau of Labor Statistics. The report surveyed Human Resources
in 500 manufacturing and 500 service companies.



The report relies on extensive surveys of Human Resources
executives in manufacturing and service sector corporations to come
up with economic indicators that identify early economic trends and
changes in the national job market. The report focuses on four key
employment measures, namely, job expectations, job vacancies,
new-hire compensation and recruitment difficulty.



Employment expectations in the manufacturing sector remain strong
for July but are lower than in June. However, the outlook for July
2006 is still better than in July 2005. The report indicates that
the demand for workers is increasingly strong, with more vacant
positions for both exempt and nonexempt staff. However, HR
executives say that they are having a difficult time finding and
recruiting qualified workers with the required skills. Despite this
apparent shortage of available workers, there are no plans to
increase new-hire compensation.



In the service industry, a reported 58% of employers plan to expand
their labor force over in July 2006, a figure which is actually
down from 66 percent in June, but still a strong indicator of an
expansionary job market. Close to a third of employers reported an
increasing number of vacancies that they are actively trying to
fill and about 21 percent said it was getting harder to find
qualified workers. This reflects a five percent increase from June.



The Society for Human Resource Management (SHRM) is the world's
largest association devoted to human resource management.
Representing more than 210,000 individual members, the Society's
mission is both to serve human resource management professionals
and to advance the profession. Founded in 1948, SHRM currently has
more than 500 affiliated chapters within the United States and
members in more than 100 countries.

Article Source:
http://www.articlesbase.com/careers-articles/us-job-market-bullish-in-july-59708.html

About the Author:
Jonathon Hardcastle writes articles on many topics including
Employment , Business , and Finance