Category: Employers

Federal Reserve Bank of Richmond (02/22/22) Mid-Atlantic manufacturing activity softened in February, according to the Federal Reserve Bank of Richmond. The composite index dropped from eight in January to one in February, due to declines in the indexes for shipments and new orders. Both indexes turned negative, with the shipments index dropping notably to -11 in February from 14 in January. However, the third component

Staffing Industry Analysts (02/18/22)  A survey found that 60% of light industrial businesses struggled to keep up with increased demand in 2021, and staff retention was a big hurdle amid the ongoing labor shortage. The survey was released by Instawork, a flexible work app for local and hourly professionals, in partnership with Logistics Management magazine. Thirty-one percent of survey respondents reported having to forego business in 2021

Staffing Industry Analysts (02/09/22)  The US Bureau of Labor Statistics reported 14.5% of private-sector establishments increased base wages as a result of the Covid-19 pandemic. Establishments in accommodation and food services, retail trade, healthcare and social assistance, and manufacturing increased base wages at a higher rate than average. The report’s data came from the “2021 Business Response Survey to the Coronavirus Pandemic” and the survey

US real gross domestic product increased at an annual rate of 6.9% in the fourth quarter, following an increase of 2.3% in the third quarter, the US Bureau of Economic Analysis reported. The data is based on an advance estimate. The economy grew 5.7% for the full year, a stark improvement from a 3.4% decline in 2020 and the strongest pace since 1984. Economists surveyed

ADP News Release (01/26/22) Fourth quarter U.S. wage growth increased 4.4%, according to the ADP Research Institute Workforce Vitality Report. Wage growth for both job holders and job switchers hit all-time highs of 5.9% and 8.0% respectively. Wage growth for Generation Z (24 years old and younger) job holders saw the largest wage gains in December 2021 at 13.1%. Employment growth year-to-year increased 5.0%, with