October Shows Increase In Jobs for Manufacturing and Service Sectors

The Society for Human Resource Management has released a report suggesting that an increase in hiring during October will put hires ahead of layoffs in the manufacturing and services industries. However, year-over-year numbers still convey the grim fact that hiring is down 2.5 percent in the manufacturing sector and 6.4 percent in the service sector, compared to the same time last year.

The manufacturing and service sectors comprise more than 90 percent of America’s private sector employment.

A net total of 17.9 percent of manufacturing sector companies will add jobs in October. That is the highest net gain for the manufacturing sector since October 2008.

A net total of 13.4 percent of service sector companies will see an increase in jobs for October.