SHRM/Rutgers Report Paints Gloomy Picture of U.S. Services, ManufacturingWeaker employment growth is forecast in both sectors, potentially affecting hiring and pay.
By Garry Kranz
Bleak Business: Things are about to get worse for already gloomy U.S. manufacturing and services sectors. According to a report by the Society for Human Resource Management and Rutgers University, manufacturing and services companies will hire fewer new employees in December. Moreover, those fortunate to land jobs can expect to be offered lower pay than people hired at the same time last year. The index of manufacturing employment is forecast to drop to 27.6 percent in December, compared with 31.5 percent in December 2006. Salaried employees are expected to feel the brunt of the decline, which means they could see pay cuts, wage freezes or the elimination of their positions altogether.
Source: http://www.workforce.com/section/quick_takes/52570_3.html
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