Initial US jobless claims fall by 33,000; Fed to keep interest rates low until job market strengthens

Released on September 17, 2020 US initial jobless claims fell in the week ended Sept. 12 from the prior week, according to seasonally adjusted data released today by the US Department of Labor. Total initial jobless claims fell to 860,000 for the week, down 33,000 from the previous week’s level, which was revised upward byRead More

Staffing industry recovering more quickly now than after 2008-2009 recession, but bottom was deeper: WEC

Released on September 16, 2020 On a global basis, the staffing industry is recovering more rapidly from the pandemic-induced economic crash than it did from the global financial crisis of 2008-2009, according to a report by the World Employment Confederation. Still, this year’s decline is deeper and sharper than the lows of the 2008-2009 recession. TheRead More

National Staffing Employee Week starts today

Released on September 14, 2020 Today marks the start of National Staffing Employee Week. The week is promoted by the American Staffing Association and aims to enable staffing firms to celebrate the contributions of the millions of contingent workers employed through them. “Staffing companies have played an integral part in economic recovery over the years,Read More

Online job ads index rises in August

Released on September 11, 2020 The Conference Board-Burning Glass Help Wanted OnLine Index of help-wanted ads rose in August to a reading of 105.1 from July’s reading of 103.4. The organizations noted the index is also up 0.8% compared to a year ago. The Conference Board produces the index in collaboration with Burning Glass Technologies,Read More

Payroll tax deferral starting today still contains uncertainty

Released on September 1, 2020 A payroll tax deferral on workers’ portion of the Social Security payroll tax begins today. But it’s unclear how many employers will participate and how much it will affect the staffing industry. The move is designed to give employees more money in their paychecks through the end of the year.Read More

GDP growth in Q2 gets slight upward revision, still biggest decline on record

Released on August 27, 2020 US gross domestic product decreased by slightly less than initially thought in the second quarter, but it remains in a historic decline, according to a new “second” estimate released today by the US Bureau of Economic Analysis. The new estimate is that GDP fell at an annual rate of 31.7%Read More

Pandemic Problems: What’s Keeping Adults Up at Night?

Released on August 26, 2020 Younger Generations Worry About Jobs, Older Generations About Cost Increases Three in four U.S. adults are worried about the rising price of groceries (75%) and the increasing cost of living (74%), which they see continuing over the next year as the nation navigates the pandemic’s impact on the economy andRead More

Consumer confidence falls for second month in row, more downbeat on jobs picture

Released on August 25, 2020 The Conference Board Consumer Confidence Index fell for the second month in a row in August as consumers remain concerned about the outlook ahead. “Consumer spending has rebounded in recent months but increasing concerns amongst consumers about the economic outlook and their financial well-being will likely cause spending to coolRead More

53% of those interested in flexible work are currently earning less than half of pre-pandemic income

Released on August 12, 2020 The pandemic has taken a bite out of financial stability, according to a survey of 1,100 US based people interested in flexible work. It found that 53% of people are currently earning half or less than their pre-pandemic income. It also found that 44% reported they are currently struggling financially,Read More