Tag: employment

Employers

CFOs See Higher Costs and Lack of Skilled Labor; Reduce Outlook for Growth

Federal Reserve Bank of Richmond (09/28/22) Financial decision-makers lowered their expectations for real growth in gross domestic product during the third quarter amid concerns over inflation and trouble finding skilled labor, according to a survey of chief financial officers by Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta. CFOs said their optimism about the overall economy rose modestly

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Employers

Job Openings Fall to 10.7 Million in June

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

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Employers

Tight Labor Market Drives Employers to Boost 2023 Pay Raises

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

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Jobs Report for June Surpasses Expectations

U.S. News & World Report (07/08/22) Smart, Tim In June, the job market exceeded expectations, with employers adding new jobs despite concerns over rising interest rates and the possibility of a recession. The American Staffing Association reported a record-high staffing index for the month, indicating ongoing demand for new employees. While some economic indicators suggest a slowing economy, hiring confidence remains strong, fueled by employers’

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A Robust June Jobs Report Clouds Outlook for US Economy

Associated Press (07/08/22) Rugaber, Christopher The June hiring report has eased concerns of an impending recession in the U.S. economy, indicating a healthy labor market. However, the data also underscores a significant divergence between the labor market’s strength and other economic indicators, suggesting a critical juncture for the economy. While robust hiring and wage growth could bolster economic resilience, inflation and rising borrowing rates orchestrated

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Employers

Job Openings Fall in May, but Tight Labor Market Remains

Staffing Industry Analysts (07/06/22) US job openings fell by 427,000 in May compared to April to 11.25 million but still far exceed the number of job seekers, the US Bureau of Labor Statistics reported. Figures for hires and total separations were little changed. The largest decreases in job openings were in professional and business services, down by 325,000; durable goods manufacturing, down by 138,000; and

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