Private Sector Employment Increased by 132,000 Jobs in August
ADP News Release (08/31/22) Private sector employment increased by 132,000 jobs in August and annual pay was up 7.6%, according to the August ADP National Employment Report. “Our data suggests a shift toward a more conservative pace of hiring, possibly as companies try to decipher the economy’s conflicting signals,” said Nela Richardson, chief economist, ADP. […]
Job Openings Top 11.2 Million in July, Well Above Estimate
By Jeff Cox CNBC (08/30/2022) KEY POINTS Available job positions in July totaled 11.24 million for the month, well in excess of the 10.3 million FactSet estimate. That total also was nearly double the total pool of available workers, which stood at 5.67 million for the month. There were nearly 1 million more job openings […]
Job Openings, Quits Rate Stay Near Record Highs Despite Recession Fears
The Hill (08/30/2022) Sylvan Lane The July Job Openings and Labor Turnover (JOLTS) report illustrates a resilient job market, despite rising interest rates aimed at alleviating labor shortages. With approximately 11.2 million job openings in July, holding steady from June, there are nearly two job openings per unemployed American. While this challenges the Federal Reserve’s desired […]
Job Hunters Are Increasingly Searching for Gigs That Pay $20 (or More) an Hour
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. […]
Contingent Labor Comprises 28% of Large Organizations’ Workforce
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% […]
Economic Outlook Weakens
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 […]
