Here are our top staffing industry news picks for the month of May
Businesses are making significant investments in artificial intelligence technologies to help attract and hire skilled workers in an increasingly tight labor market, according to information from Randstad Sourceright’s Q2 2018 Talent Trends report.
Wage growth accelerated in April, with one-month annualized hourly earnings growth of 3.25%, marking a two-year high, according to the latest Paychex | IHS Markit Small Business Employment Watch.
The U.S. Federal Reserve held interest rates steady yesterday and expressed confidence that a recent rise in inflation to near the U.S. central bank's target would be sustained, leaving it on track to boost interest rates in June
57% percent of small businesses are hiring or planning to hire, up four points from March, according to the National Federation of Independent Business. A net 33% of small-business owners also reported higher worker compensation, on par with the previous month and the highest reading since 2000.
The Conference Board Employment Trends Index increased in April, for the second consecutive month. The index now stands at 108.08, up from a downwardly revised 107.37 in March. The change represents a 4.9% gain in the ETI compared with a year ago.
The Small Business Optimism Index sustained record-high levels, increasing to 104.8 in April, driven by reports of improved profits, the highest in the NFIB Small Business Economic Trends Survey's 45-year history. Additionally, the number of small businesses reporting poor sales declined to a near record low.
The number of unfilled jobs U.S. employers had at the end of March rose to a record high of 6.55 million, according to the U.S. Department of Labor. There were just 6.59 million unemployed Americans that month, creating the narrowest gap between available jobs and those actively seeking work in nearly two decades of record keeping.
This year’s graduating class is still very deep in the weeds of job searching, according to a Monster.com survey of 353 students graduating this year. So far, few grads in the class of 2018 have a job lined up for after graduation, and while most report being hopeful they’ll have a job by the time they collect their degree, many are only just starting to look.
The U.S. Federal Reserve is almost certain to raise short-term interest rates at its June policy meeting and likely will follow up with another increase in September, according to a survey of 60 economists by the Wall Street Journal.
The number of foreign graduates from US colleges remaining and working in the US after graduation is growing and more than half are working in STEM fields under the Optional Practical Training Program, or OPT, according to a report by Pew Research.
The U.S. National Labor Relations Board recently announced that it will soon start the rulemaking process to clarify the current joint employment standard. NLRB considers this a "long-term action" and has not set a target date for completion, although NLRB chairman John Ring would like to issue a proposed rule "as soon as possible."
U.S. Citizenship and Immigration Services is recalling approximately 8,543 permanent resident cards (also known as green cards) due to a production error. The green cards were for spouses of U.S. citizens. The cards were printed with an incorrect "resident since" date and mailed between February and April 2018.
The Canadian staffing index, which measures staffing activity in Canada, rose 8% in April on a year-over-year basis to a reading of 107. “April’s strong year-over-year growth can be largely attributed to the greater number of working days this year,” said Maxim Kupfer, research analyst at Staffing Industry Analysts.
Employers say they are planning to hire more recent college graduates this year than they have in more than a decade, according to a survey of 1,012 hiring managers and HR professionals by CareerBuilder. Eighty percent of employers say they plan to hire college graduates this year, up from 74% last year.
The Conference Board Leading Economic Index for the U.S. increased 0.4% in April to 109.4, following a 0.4% increase in March. "April's increase and continued uptrend in the U.S. LEI suggest solid growth should continue in the second half of 2018," said Ataman Ozyildirim, director of business cycles and growth research at the Conference Board.