The raw data in these charts were obtained from the Institute for Supply Management. The manufacturing data is not adjusted for seasonality as I prefer to see unadjusted data. Unfortunately, the ISM only provides the non-manufacturing data after adjusting for seasonality. So the non-manufacturing data may have the occassional odd artificat from this seaonal adjustment (which is intended to compensate for yearly patterns).
ISM surveys US manufacturers and non-manufactures on a monthly basis. As part of the survey, respondents are asked questions about their hiring expectations. They answer if they expect to do more hiring, the same, or less hiring. This data is provided in the aggregate by ISM. I subtract the number of respondents who are reducing their hiring from those who are increasing their hiring to obtain the appropriate index. The results (Chart 1) provide information about employment opportunities in the US as a whole.
Using the data shown in Chart 1, I also track the monthly change in the indices. The provides information about the volitility of the employment market. As you can see, even in times of low hiring, there are always needs for people - this shows the importance of always having a up-to-date resume.