Author: wgraham

Employers

Economy Beat Expectations in Second Half

Staffing Industry Analysts (12/15/23) The US economy beat expectations in the second half of this year, though growth will slow next year, according to the December results of the biannual Livingston Survey. Economists surveyed now believe US gross domestic product will have increased at a 3.1% annualized growth rate in the second half of this year. That’s up from a contraction of 0.7% estimated in

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Employers

ISM Reports Economic Improvements to Continue in 2024

PRNewswire (12/15/23) Economic improvement in the U.S. will continue in 2024, say the nation’s purchasing and supply management executives in the December 2023 Semiannual Economic Forecast by the Institute for Supply Management. Revenues are expected to increase in 15 of 18 manufacturing industries and 16 of 18 services-sector industries. Capital expenditures are expected to increase by 11.9% in the manufacturing sector (after a 14.9% increase

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Employers

Private Sector Employment Rose by 103,000 Jobs in November

ADP News Release (12/06/23) Private sector employment increased by 103,000 jobs in November and annual pay rose 5.6% year-to-year, according to the November ADP National Employment Report. “Restaurants and hotels were the biggest job creators during the post-pandemic recovery,” said Nela Richardson, chief economist, ADP. “But that boost is behind us, and the return to trend in leisure and hospitality suggests the economy as a

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Job Openings Fall to Lowest Level Since March 2021

Staffing Industry Analysts (12/05/23) US job openings declined by 617,000 in October compared to September and were at their lowest level since March 2021, according to data released by the US Bureau of Labor Statistics. Job openings totaled approximately 8.7 million in October. “Now we’re starting to head back to levels that are truly consistent with what you would call a cooling labor market,” Karin

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Employers

Forecasted Slower Growth in 2024

National Association for Business Economics (12/04/23) National Association for Business Economics panelists anticipate stronger U.S. economic growth projections for 2023 than NABE panelists did in October, but the 40 panelists surveyed in November expect growth to slow to 1% between the fourth quarter of 2023 and the fourth quarter of 2024. Fewer respondents than in the October survey expect a recession within the next 12

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Economy Looks a Bit Better Now Than Three Months Ago

Staffing Industry Analysts (11/13/23) The US economic outlook looks somewhat better now than it did three months ago, according to the Philadelphia Federal Reserve’s quarterly Survey of Professional Forecasters. Forecasters now expect the US economy to grow at an annual rate of 1.3% this quarter, up from the 1.2% forecast in the last report. They also predict the US will add 148,800 new jobs per

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