On Call Counsel News Release (02/28/12)

On Call Counsel, a division of the TemPositions Group of Cos. with operations in California, New York, New Jersey, and Connecticut, has acquired selected assets of Peak Counsel, a New York-based attorney and paralegal staffing business. As part of the agreement, Arnold Schlanger and Leyda Mata, two key executives from Peak Counsel, will establish an On Call Counsel New York City office. Schlanger will serve as managing director and Mata as managing director of recruitment. The transaction will now provide On Call Counsel with a significant presence in the New York legal market in addition to their existing strength in California.

Wall Street Journal (03/02/12) Ben Casselman; Jon Hilsenrath

A host of reports Thursday indicate that the U.S. economy is finally showing signs of moving onto firmer ground. However the economy is far from robust. Consumer spending has been mixed, and the manufacturing sector, though on the rebound, is not booming, according to a survey of manufacturing purchasing managers by the Institute for Supply Management.

One big worry at the U.S. Federal Reserve is that household incomes have not been growing fast enough to support much additional spending. The U.S. Commerce Department said on March 1 that wage and salary income in January was 5% higher than a year earlier, the fourth straight month of gains of 5% or higher, which hasn’t happened since late 2007. But after adjusting for inflation, income and spending have seen only modest gains in recent months.

The latest signs of growth are met with caution by those who recall that in 2010 and 2011, the recovery seemed to start the year with momentum but petered out by summer. Still, many business executives say they are prepared to move ahead with hiring and investment growth plans despite their lingering uncertainties about the outlook.

Associated Press (03/01/12) Christopher Rugaber; Derek Kravitz

Steady declines in applications for unemployment aid are pointing to another strong month of hiring in February. Meanwhile, manufacturing growth slowed and construction spending dipped, while auto and retail sales both climbed. The mixed data suggest the recovery will stay bumpy. Jennifer Lee, an economist at BMO Capital Market, notes: “Stronger job creation is not generating more spending.”

Many economists predict employers added more than 200,000 net jobs in February for the third straight month. “The labor market appears to have strengthened markedly over the last few months,” says Paul Ashworth, senior U.S. economist for Capital Economics. Ashworth predicts the economy added 220,000 net jobs last month and the unemployment rate fell for the sixth straight month, to 8.2%.