MAY 2018 NEWS

    STAFFING NEWS ROUNDUP

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

    May 1, 2018

    Employers increase AI investments to attract talent

    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.

    May 2, 2018

    Wages show positive momentum amid tightening labor market

    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.

    May 3, 2018

    Federal Reserve leaves rates unchanged

    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

    May 4, 2018

    Small business hiring continues at steady pace

    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.

    May 7, 2018

    Conference Board Employment Trend Index up in April

    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.

    May 8, 2018

    Record level of small businesses experiencing profit growth

    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.

    May 9, 2018

    Number of unfilled jobs rose to a record high at the end of March

    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.

    May 10, 2018

    Three quarters of 2018 grads have no job lined up

    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.

    May 11, 2018

    Economists predict Fed rates rising in June, then September

    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

    May 14, 2018

    Foreign grads staying to work in STEM fields

    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.

    May 15, 2018

    Labor Board might issue new rule to solve joint employment dilemma

    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."

    May 16, 2018

    USCIS to recall incorrectly dated green cards

    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. 

    May 17, 2018

    Canadian staffing index up 8% year over year

    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.

    May 18, 2018

    College hiring outlook strongest in more than a decade

    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.

    May 21, 2018

    Conference Board Leading Economic Index for US increased in April

    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.

    May 22, 2018

    CEOs' confidence in firm growth prospects up

    More CEOs are “very confident” in the growth of their companies over the next three years, and a narrow majority believe artificial intelligence and robotics will create more jobs than they destroy, according to the new “US CEO Outlook” survey from accounting firm KPMG.

    May 23, 2018

    College grads who start underemployed stay there

    43% percent of workers are underemployed in their first job, according to an analysis of four million resumes and federal data sets relating to degree completion, majors, and workers' earnings. Workers initially underemployed are five times more likely to remain so after five years than those who were not underemployed in their first job.

    May 24, 2018

    Average US weekly wage up 3.9% in first quarter

    The US average weekly wage increased 3.9% year over year to $1,109 in the fourth quarter of 2017, according to data released today by the US BLS. Among the 346 largest counties in the US, San Mateo County in California and Ada County in Idaho had the largest year-over-year percentage increases in average weekly wages, with gains of 11.5% each.

    May 25, 2018

    Summer hiring strongest it has been in a decade

    The overwhelming majority (95%) of employers are adding more shifts this summer and more than half plan to hire more summer workers than last year, according to a survey of 1,000 employers by Snag. Most employers (82%) plan to fill all seasonal summer jobs by May, up from 71% in 2017. 

    May 28, 2018

    GDP in US to expand 2.9% in 2018; recession not in sight

    Gross domestic product will expand by a strong 2.9% in 2018, according to the “The Forecast of the Nation” released by the Economic Forecasting Center at Georgia State University’s J. Mack Robinson College of Business. The GDP will then moderate to 2.4% in 2019 and 1.8% in 2020, according to the forecast.

    May 29, 2018

    Companies looking for seasonal workers turn to Puerto Rico

    Finding workers has become more difficult for summer vacation areas that hire seasonal employees — even more so with more stringent immigration controls. Now some companies are looking to Puerto Rico as a source for workers, according to a story in The Boston Globe.

    May 30, 2018

    Small business job growth shows slight increase in May

    The Paychex | IHS Markit Small Business Employment Watch for May shows a small increase in the rate of hiring and a slight decrease in the pace of wage growth. The Small Business Jobs Index grew for the first time since January, up 0.07% to 99.6. Job growth among small businesses is down 0.73% year-to-year. 

    May 31, 2018

    Homeland Security adds 15,000 H-2B visas

    An additional 15,000 H-2B visas for temporary nonagricultural workers will be available for the remainder of fiscal year 2018, US Citizenship and Immigration Services announced. Secretary of Homeland Security ordered the increase after determining a shortage of qualified US workers available to perform temporary non-agriculture labor to satisfy the needs of American businesses in the current fiscal year.