In July, job creation rates will be mixed compared with a year ago, as fewer service-sector companies plan to grow payrolls and more manufacturers will add jobs. Layoff rates will also vary, as fewer manufacturers will cut jobs and more service-sector employers will conduct layoffs.
A net of 48.7 percent of manufacturers will add jobs in July (56.9 percent will hire, 8.2 percent will cut jobs). The sector's hiring index will increase by 2.8 points compared with a year ago. A net of 45.8 percent of service-sector companies will also conduct hiring in July (51.5 percent will add jobs, 5.7 percent will cut jobs). The index will fall by 4.7 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.