September 15, 2014

ASA Names Mechanical Designer as 2015 National Staffing Employee of the Year

Published September 15, 2014 ■ Announcement

To commence National Staffing Employee Week, Sept. 15–21, ASA today named mechanical designer Thomas Sutton as the 2015 National Staffing Employee of the Year.

Sutton decided to seek employment in the staffing industry to find a career that offered work–life flexibility and professional satisfaction. He sought the assistance of ASA member firm Volt Workforce Solutions, a business unit of Volt Information Sciences Inc.

Although Sutton is based in Arizona, the firm recognized that Sutton’s advanced mechanical design skills and aerospace experience were ideal to place him on assignment in Southern California’s aerospace industry, where Sutton currently designs launch pad infrastructure and ground support equipment.

Sutton’s story embodies an industry key message: flexibility. Sutton has been given the opportunity to continue to provide his expertise as a mechanical designer while maintaining the flexibility to minimize extended periods of time away from his home.

National Staffing Employee Week honors the contributions of the millions of temporary and contract employees on assignment in support of U.S. businesses and the nation’s economy every workday.

It isn’t too late to take part in the festivities. Go to asacentral.americanstaffing.net to gain access to a variety of free materials to show appreciation for your employees, thank clients for their business, and help educate the public about the importance of the staffing industry.

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.

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Fed Chief Yellen Seeks Interest-Rate Consensus

Published September 15, 2014 ■ Headline News

Wall Street Journal (09/15/14) Jon Hilsenrath

U.S. Federal Reserve chairman Janet Yellen is seeking consensus on interest rates and easy money policies, and rather than champion an extension of superlow interest rates, she appears willing to exit from the policy as officials indicate that the economy is on stronger ground. With the bond-buying program set to conclude at the end of October, officials are discussing when short-term interest rates should rise and how to signal the change. Many Fed officials expect interest rates to increase in mid-2015, but in July Yellen indicated that rates could rise sooner if the job market continues to improve faster than expected.

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Thomson-Reuters and University of Michigan Mid-September Sentiment Rises

Published September 15, 2014 ■ Headline News

Dow Jones Business News (09/12/14) Cynthia Lin

U.S. consumers are more optimistic about the economy than they have been in more than a year, according to the Thomson-Reuters and University of Michigan mid-September sentiment index, which increased to 84.6 from a final August result of 82.5. The reading is the highest it has been since July 2013. Economists polled by the Wall Street Journal had forecast a preliminary September reading of 83.0.

Meanwhile, the expectations index rose to 75.6 from a final August result of 71.3. The current conditions index fell to 98.5 from 99.8, which had been the highest reading since July 2007.

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Industrial Production Falls in August for First Time Since January

Published September 15, 2014 ■ Headline News

Wall Street Journal (09/15/14) Jonathan House; Eric Morath

U.S. industrial production declined 0.1% in August from July, according to the U.S. Federal Reserve. Prior to the latest reading industrial production had not declined since January, and July’s increase was revised down to 0.2% from 0.4%. Economists polled by the Wall Street Journal had forecast a 0.3% increase for August.

Meanwhile, manufacturing production, the largest component of the overall figure, declined 0.4% in August after climbing 0.7% in July due to strong output from the automobile sector. Excluding autos, factory output rose by 0.1% in both July and August. Overall industrial output in August rose 4.1% from the same period a year ago.

The broader economy’s health has been improving since a weather-related slump in the first quarter. It grew at a 4.2% annual rate in the second quarter.

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Empire State Business Activity Expands

Published September 15, 2014 ■ Headline News

Federal Reserve Bank of Philadelphia (09/15/14)

Business activity expanded at a robust pace for New York manufacturers, according to the September 2014 Empire State Manufacturing Survey. The headline general business conditions index rose 13 points to 27.5, a multiyear high. Employment indexes showed a slight increase in employment levels and hours worked. Indexes for the six-month outlook conveyed a high degree of optimism about future business conditions.

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Get Staffing Industry Salary Data—Participate in the ASA Staffing Industry Compensation Survey

Published September 15, 2014 ■ ASA for You

The ASA Staffing Industry Compensation Survey provides the only comprehensive view of salaries and compensation in the staffing industry.

Just in time for 2015 budget planning, get the data you need to see how your firm’s compensation, incentive, and benefits structures compare with those of similar firms. This survey collects information on salaries, variable pay, and benefits for 29 positions specific to the staffing industry. Subscribe to the survey for online access to exclusive reports—search for competitor firms; by city, state, or ZIP code; and much more.

Participate in the survey by Sept. 28 for access to custom online reports. These reports will be available beginning Sept. 29, but only to subscribers. For more information and to subscribe, visit americanstaffing.net.