Author: wgraham

Staffing Industry Analysts (04/25/24) In the first quarter of the year, US gross domestic product (GDP) growth decelerated to an annual rate of 1.6%, down from 3.4% in the previous quarter, according to the US Bureau of Economic Analysis. This growth rate was lower than the consensus forecast of 2.2%, reported by US News and World Report. The slowdown primarily resulted from decreased consumer spending,

Reuters (04/04/24) Despite a four-year strong overall job market, U.S. factory employment has remained stagnant for over a year due to high interest rates, a slowing economy, and a drop in demand for many manufactured goods after the pandemic. However, experts predict that manufacturing investments and potential interest-rate cuts could lead to job growth in the future, as evidenced by companies hiring in anticipation of

ADP News Release (04/03/24) In March, private sector employment surged by 184,000 jobs, accompanied by a significant 5.1% year-to-year increase in annual pay, as reported by the March ADP National Employment Report. “March was surprising not just for the pay gains, but the sectors that recorded them. The three biggest increases for job-changers were in construction, financial services, and manufacturing,” said Nela Richardson, chief economist,

Staffing Industry Analysts (04/03/24) The US manufacturing sector could require 3.8 million new workers by 2033, but over half of these positions might remain vacant due to the skills gap and a shortage of applicants. Digital skills are increasingly essential in manufacturing, with a notable surge in demand for skills such as simulation software expertise. Fast-growing roles in the sector include statisticians, data scientists, engineers,

U.S. Bureau of Labor Statistics (04/02/24) In February, the number of job openings changed little at 8.8 million, according to the U.S. Bureau of Labor Statistics. Both hires and separations saw minimal change, with 5.8 million hires and 5.6 million total separations (including 3.5 million quits and 1.7 million layoffs and discharges, which also changed little). Job openings increased in finance and insurance (+126,000); state