FEBRUARY 2018 NEWS

    STAFFING NEWS ROUNDUP

    Here are our top staffing industry news picks for the month of February

    February 1, 2018

    IT jobs continue to lead in MSP and VMS spend

    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.

    February 2, 2018

    Staffing employment remains robust in January

    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.

    February 5, 2018

    Conference Board Employment Trend Index increased in January

    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.

    February 6, 2018

    Stock market correction on Monday impacts staffing shares 

    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%.

    February 7, 2018

    Construction employment expands in 269 metro areas year-to-year

    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.

    February 8, 2018

    Jobless claims drop, remain near 45-year low

    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.

    February 9, 2018

    Gig economy worker is not an employee; judge rules Grubhub driver is independent contractor

    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.

    February 12, 2018

    Antistaffing legislation defeated in Mississippi and Washington

    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. 

    February 13, 2018

    Senate begins debate on immigration

    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.

    February 14, 2018

    Jobless claims edge up 7,000 in line with expectations

    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. 

    February 15, 2018

    Companies trending towards paid internships

    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.

    February 16, 2018

    In tight labor market, companies turning to second choices

    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.

    February 19, 2018

    US Consumer sentiment jumps to second highest level since 2004

    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. 

    February 20, 2018

    ASA seeks clarification on pass through deductions

    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.

    February 21, 2018

    Skills Gap Index identifies top hard-to-fill jobs for 2017

    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.

    February 22, 2018

    IT staffing supply and demand drifting apart

    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.

    February 23, 2018

    Hedge fund billionaire predicts next recession before 2020 

    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.

    February 26, 2018

    US gets tougher on H-1B visas for staff at third-party worksites

    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.

    February 27, 2018

    Employers see skills gap in key areas where students do not, says study

    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. 

    February 28, 2018

    Jobless claims average falls to lowest level since 1969

    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.