By Sarah Hansen – Money.com (08/30/22) The Great Resignation may be waning, but workers are still looking for a raise. Since April of last year, people have searched for jobs that pay $20 per hour more than they’ve searched for jobs that pay $15 per hour, according to a new analysis from Indeed’s Hiring Lab. That’s a change from 2019 and 2020, when job searches
Staffing Industry Analysts (08/26/2022) On average, contingent labor makes up 28% of a large company’s workforce, according to a report released earlier this month by MBO Partners. MBO Partners defines contingent labor as all non-permanent workers, including temporary agency workers, internal temporary workers, freelancers, independent contractors and statement-of-work consultants. Over the next 18 months, 67% of corporations expect their use of contingent labor to increase.
Economic Outlook Weakens As Philadelphia Fed Lowers Its GDP Estimate for the Year Staffing Industry Analysts (08/12/2022) The US economy looks weaker than it did in May, according to the Philadelphia Federal Reserve’s Survey of Professional Forecasters. US real GDP is projected to grow at 1.4% in the current quarter, down from 2.5% in the previous forecast. Forecasters lowered their growth expectations for the next
NAFCU (08/08/2022) The Bureau of Labor Statistics issued the July Jobs Report on Friday, which revealed that the unemployment rate dropped to 3.5 percent in July, a fifty-year low. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the report in a new NAFCU Macro Data Flash report. “The July jobs report was a summer scorcher, and will likely be seen as uncomfortably warm for policy makers focused on
Staffing Industry Analysts (08/02/2022) The number of US job openings fell to 10.7 million in June, a decrease of approximately 605,000 from May, according to seasonally adjusted data released by the US Bureau of Labor Statistics. They were at their lowest level since September 2021. Still, the number of openings were up year over year. The number of separations also fell in June when compared
WTW News Release (07/14/22) U.S. companies are budgeting an overall average increase of 4.1% in salary for employees in 2023, compared with the average actual 4.0% increase in 2022, according to a survey of 1,430 U.S. organizations by global advisory, broking, and solutions company WTW. These are the largest increases since 2008. Nearly two in three (64%) U.S. employers have budgeted for higher employee pay
