In October, hiring rates will decline compared with a year ago
In October, for the second consecutive month, job creation rates will fall in both sectors compared with the previous year. Layoff rates will also increase slightly in both the manufacturing and service sectors.
A net of 40.4 percent of manufacturers will add jobs in October (49.9 percent will hire, 9.5 percent will cut jobs). The sector's hiring index will decrease by 4.9 points compared with a year ago. A net of 41.8 percent of service-sector companies will conduct hiring in October (50.6 percent will add jobs, 8.8 percent will cut jobs). The index will fall by 3.5 points compared with a year ago.
The LINE employment expectations index provides an early indication of the U.S. Bureau of Labor Statistics (BLS) Employment Situation report findings. BLS numbers covering the same time period are released approximately one month after the LINE report.