Here are our top staffing industry news picks for the month of August
Wages and benefits are increasing at the quickest pace in a decade. The employment cost index advanced 0.6% in the second quarter. MarketWatch had forecast a 0.7% increase.
Blockchain topped online staffing provider Upwork’s second-quarter list of the 20 fastest-growing skills in the US freelance job market for the second consecutive quarter.
Online advertised vacancies increased 170,800 to 4.7 million in July, according to the Conference Board Help Wanted OnLine Data Series.
US temporary help services jobs rose by 3.3% in July on a year-over-year basis, according to seasonally adjusted numbers released today by the US Bureau of Labor Statistics. Compared to June, the number of US temp jobs rose by 27,900.
Retail industry employment in July increased by 66,000 jobs unadjusted over the same time last year, according to the National Retail Federation. July's increase of 3,100 jobs was followed by revisions in June with a loss of 23,600 and an upwardly revised increase in May of 28,000, seasonally adjusted.
Retailers have added an average of 12,000 jobs each month this year after eliminating an average of 6,000 jobs per month during the first seven months of 2017. Rising incomes and strong consumer confidence have lifted consumer spending and prompted some retailers to expand. Read more here.
Economists lowered their forecast for the US unemployment rate, and they have upgraded the number of new jobs expected, according to the third-quarter Survey of Professional Forecasters released today by the Federal Reserve Bank of Philadelphia.
The average estimate for economic growth this year increased to 3%, up from projections of 2.9% last month and 2.4% a year ago, according to a monthly survey of private economists.
By 2020, they expects economic growth to slow to 1.8%, down from estimates earlier this year of 2%.
The four-week moving average of jobless claims fell 500 to 214,250 in the week ended Aug. 4 from the previous week’s revised average of 214,750, the US Department of Labor announced today.
U.S. employees likely will receive slightly larger pay raises in 2019, according to a survey of 814 companies by Willis Towers Watson. U.S. employers project giving exempt, non management employees (i.e., professional) average pay increases of 3.1% in 2019, compared with 3.0% this year.
The percentage of job seekers relocating for new employment has declined since the late 1980s, when over one-third of job seekers were willing to move for a new job. Just 11% of job seekers relocated for work over the last decade, compared with nearly 19% of workers who relocated for new jobs in the previous decade.
The unemployment rate among young U.S. workers this summer dropped to its lowest level in more than 50 years. Of Americans age 16 to 24 years old actively looking for work this summer, 9.2% were unemployed in July, a decline from the 9.6% youth unemployment rate a year earlier.
Bloomberg BNA reports Reps. Bradley Byrne, R-Ala., and Henry Cuellar, D-Texas, recently asked Labor Secretary Alex Acosta to issue a new regulation updating joint employer liability under the Fair Labor Standards Act, according to a letter obtained by Bloomberg Law.
The Conference Board’s US Leading Economic Index rose 0.6% in July to a reading of 110.7 (2016 = 100), following a 0.5% increase in June, and a 0.1% increase in May, suggesting the US economy will continue expanding at a solid pace for the remainder of this year.
The shortage of workers in science, technology, engineering and math is at a crisis level, according to two out of five Americans surveyed by Emerson. The US will need to fill 3.5 million STEM jobs by 2025, but as many as 2 million will go unfilled because of difficulty finding people with the skills in demand.
Temporary and contract staffing employment rose 3.9% in the week of Aug. 6 to Aug. 12 compared to the same week last year, according to the American Staffing Association’s staffing index. It’s the third consecutive week the index has reached record highs for their comparable weeks.
Competition is mounting for engineering expertise, according to an annual reader survey of 1,350 engineers by Electronic Design. Forty percent of respondents say their company is going to increase engineering staff over the next year, and more than two-thirds of engineers say a headhunter has approached them within the last year.
The US average weekly wage increased 3.7% year over year to $1,152 in the first quarter, according to data released today by the US Bureau of Labor Statistics. Among the 349 largest counties in the US, Peoria County in Illinois and Suffolk County in Massachusetts posted the largest year-over-year percentage increases in average weekly wages.
The overall percentage of private-sector employers offering health benefits increased in 2017 for the first time since 2008, according to research from the Employee Benefit Research Institute, a nonprofit research group based in Washington, DC. The research found increases across all sizes of plans.
A gradual path of interest-rate hikes remains appropriate for the U.S. Federal Reserve, because there does not seem to be "an elevated risk of overheating," chairman Jerome Powell said during a speech opening the Jackson Hole, WY, summer retreat.