Here are our top staffing industry news picks for the month of February
SIA recently published separate reports that provide color on the prominence of MSP and VMS among IT occupations. Based on SIA’s survey results, approximately $35 billion of global MSP spend was tied to IT occupations in 2016, representing 30% of the $117 billion MSP market.
Temporary help employment changed little (0.1%) from December 2017 to January 2018, but was 3.4% higher than in January 2017, according to seasonally adjusted data released today by the U.S. Bureau of Labor Statistics.
The Conference Board Employment Trends Index increased in January, after increasing in December. The index now stands at 106.93, up from a downwardly revised 106.59 in December. The change represents a 5.4% gain in the ETI compared with a year ago.
Shares in some of the largest US staffing firms by revenue saw shares fall in Monday’s market correction, according to data from Yahoo. Robert Half International closed down 3.25% on Monday, Kelly Services closed down 0.24%, and ManpowerGroup closed down 4.19%.
Construction employment increased in 269 out of 358 metro areas (75.1%) between December 2016 and December 2017, declined in 43 (12.0%), and stagnated in 46 (12.9%), according to the Associated General Contractors of America.
Jobless claims declined by 9,000 to 221,000 in the week ended Feb. 3, according to the U.S. Department of Labor. Economists surveyed by MarketWatch had anticipated claims of 235,000.
A federal judge yesterday in San Francisco ruled a driver for Grubhub Inc. — a human cloud, restaurant delivery platform — was classified correctly as an independent contractor, rather than an employee.
Two antistaffing bills that would have negatively affected staffing firm's ability to do business were defeated recently: SB 2086 in Mississippi, and HB 2849 in Washington. The two bills both were withdrawn after ASA members and companies explained concerns.
With the fate of hundreds of thousands of young, undocumented immigrants in the balance, the Senate on Monday began anopen-ended debate on immigration — an exceedingly rare step that, in effect, will allow senators to attempt to build a bill from scratch on the Senate floor.
The number of people applying for unemployment benefits rose by 7,000 to 230,000 in the week ended Feb. 10, according to the U.S. DoL. That was in line with the expectations of economists polled by MarketWatch.
Companies increasingly pay college students taking part in internships, according to a report from the National Association of Colleges and Employers. NACE’s Class of 2017 Student Survey found 61% of graduating seniors took part in an internship or co-op experience during their college careers.
As companies struggle to fill jobs in a tight labor market, many are tracking, courting, and hiring their second and third choices for jobs. Eighty-eight percent of recruiters and hiring managers tapped "silver medalists" to fill jobs, according to a 2017 survey.
The University of Michigan sentiment index rose to 99.9 in February from 95.7 in January. Analysts surveyed by Bloomberg had forecast a reading of 95.5. The unexpected increase pushed the sentiment index to its second-highest level since 2004.
Provisions under the newly enacted tax plan enable “Pass Through” business entities to potentially exclude up to 20 percent of profits from federal taxation. Certain industries are excluded from the “Pass Through” tax break, but other industries including staffing are left to try to interpret regulations to determine eligibility. ASA is seeking legal clarification.
The American Staffing Association Skills Gap Index has identified the 156 hardest-to-fill occupations in the U.S. for the fourth quarter of 2017. The list includes computer and information research scientists, psychiatrists, heavy and tractor-trailer truck drivers, and tax preparers.
IT employment growth has outpaced that of the overall economy for the last 15 years, and the IT staffing segment has a relatively high temporary agency penetration rate in the US, according to the “IT Staffing Growth Assessment: 2018 Update” recently released by Staffing Industry Analysts. However, a supply constraint remains.
The American economy will likely sink into a recession before President Trump stands for re-election in 2020, according to hedge fund manager Ray Dalio, who famously predicted the 2008 recession. "The probability of a recession prior to the next presidential election would be relatively high, 70% or something like that," Dalio said on Wednesday evening.
US Citizenship and Immigration Services announced changes that make it tougher to get H-1B visas — used to bring in highly skilled temporary foreign workers — who will fill jobs at third-party worksites. Quartz India reports the new guidance will make it difficult especially for Indian workers and IT companies.
Students entering the job market and potential employers have very different perceptions about the “career readiness” of new college graduates, according to a survey by NACE. The two groups’ opinions differed greatly on new graduate proficiency in professionalism/work ethic, oral/written communications, and leadership.
The US four-week moving average of initial claims for unemployment insurance fell to 220,500 last week, down 5,000 from the previous week’s revised average, the US Department of Labor reported. This is the lowest level for this average since Dec. 27, 1969, when it was 219,750.