January job market shows strong employment growth: Report
A new report anticipates more job growth in January 2007 than in January 2006. The Leading Indicator of National Employment Report also revealed no evidence of increasing wage inflation in either the manufacturing or service sectors. The report is a collaborative effort between the
Society for Human Resource Management (SHRM) and the Rutgers University School of Management and Labor Relations.
Fewer manufacturers plan to shrink their workforces in January 2007 than in January 2006 (11.6 percent versus 16.9 percent). Service-sector employment is expected to increase in January 2007.
This LINE employment expectations report references the same January period as the report the Bureau of Labor Statistics will release on February 2, 2007. Despite the major decline in overall job vacancies, firms are still struggling to find highly qualified applicants to fill key positions. Within both the manufacturing and service sectors, recruiting difficulty continues to be a major concern, due to a drop in the large pool of qualified job seekers eager to take open positions.
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