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. […]

Lack of US Workers Is ‘Bigger Threat’ Than Inflation

By Akayla Gardner Bloomberg.com (09/06/22) Labor Secretary Marty Walsh said the US will eventually need to overhaul the nation’s immigration system, calling the lack of available workers to fill jobs a “bigger threat” to the economy than inflation. “We don’t have enough workers in the United States of America to fill all the job openings […]

Labor Costs Surge in First Quarter, Fueling Inflation

Staffing Industry Analysts (05/09/22) The US staffing industry is projected to reach a record $185.5 billion in revenue this year, according to the new “US Staffing Industry Forecast” report released by Staffing Industry Analysts. That will eclipse the pre-pandemic market size of $152.8 billion in 2019. “Growth in the US staffing industry is currently being […]

Labor Costs Surge in First Quarter, Fueling Inflation

Reuters (04/29/22) Mutikani, Lucia U.S. labor costs surged by the most in 21 years in the first quarter, according to the U.S. Department of Labor. The employment cost index jumped 1.4% last quarter after advancing 1.0% in the October-December period. Economists polled by Reuters had forecast the index climbing 1.1% in the first quarter. Last […]