Economic activity continued to expand in all 12 districts during the reporting period spanning late May, June, and early July, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Overall consumer spending increased in every district. Manufacturing activity also expanded in all 12 districts. Labor market conditions improved, with all districts reporting slight to moderate employment growth. Conditions in the staffing services industry across the districts were unchanged or improved modestly compared with the previous survey period. Several districts continue to report difficulty finding skilled workers, causing upward wage pressure for those positions.
Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Jobless Claims in U.S. Unexpectedly Decreased Last Week
Bloomberg (07/17/14) Michelle Jamrisko
The number of people applying for unemployment benefits in the week ended July 12 dropped by 3,000 to 302,000, a sign that the labor market continues to strengthen, according to the U.S. Department of Labor. The 51 economists surveyed by Bloomberg had forecast claims of 310,000. The four-week moving average of claims dropped by 3,000 to 309,000, the lowest level since June 2007.
Chicago Fed’s Evans Says Job Market Improvement Real and Welcome
Wall Street Journal (07/16/14) Jon Hilsenrath
The labor market has improved more quickly than expected, but the U.S. Federal Reserve should remain cautious about increasing interest rates, according to Charles Evans, president of the Federal Reserve Bank of Chicago. Rates should remain at near zero until inflation stabilizes at 2%, he says, though some Fed officials believe the U.S. should consider raising short-term interest rates due to lower than predicted unemployment levels.
“I’m still in the camp that thinks that it has been our appropriate monetary policy that has helped set the table for businesses to take advantage of the opportunities in front of them and hire more workers, and the consumer to do better,” Evans says. “I think that is going to continue to be appropriate well into 2015.”
Two Weeks Left—Nominate the Next National Staffing Employee of the Year
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What’s Trending on ASA Central Right Now
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Free ASAPro Webinar Next Month—Handling Conflict With Clients
Regardless of how hard you strive to serve your clients, there’s bound to be conflict. Learn how to avoid the most common causes for conflict with clients, discover how to address conflicts that do arise, and find out how to strengthen your staffing provider–client relationship during the ASAPro webinar “How to Handle Conflict With Clients.” It takes place Thursday, Aug. 21, 3–4 p.m. Eastern time.
All ASAPro webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.
California Division of Workers’ Compensation Posts Updated Time-of-Hire Pamphlet in Spanish
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Can an Employer Holding On-Site Yoga Classes Have Workers’ Compensation Liability?
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Employment Law Exotica
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Employee Calls You a ‘F****** Crook’ While Complaining About Work and Wages: Now What?
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Are Temporary Positions Leading Job Growth?
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U.S. Engineering Employment to Grow by Quarter Million Jobs
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Majority of Biotech and Pharma Employees Poised to Job Hunt
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