HR group predicts layoffs to hit three-year low in August

The study completed by the Society for Human Resource Management concludes 7.7 percent of manufacturers and 6 percent of service-sector companies plan to cut jobs in August. Three years ago, 9.5 percent of manufacturers and 4 percent of service-sector companies cut staff. 

"[Layoffs] have clearly abated," said Jennifer Schramm in prepared remarks. 

Schramm is a manager of workplace trends and forecasting for the organization. 

"The encouraging news is that payrolls appear to be stabilizing at many companies," Schramm said.

Overall, 44.9 percent of manufacturers expect to hire in August, while 7.7 percent plan to cut jobs. The net 37.2 percent is not far behind the 47.3 percent in August 2007. 

In the service sector, 44.3 percent of employers plan to hire in August and six percent plan to cut jobs. The net of 38.3 percent is the highest percentage since August 2007. 

The organization surveyed more than 1,000 human resource professionals at companies nationwide to complete its report.