American Staffing Association (05/24/12)

Staffing industry executives from around the globe have converged in London this week for the 2012 World Employment Conference, conducted by the International Confederation of Private Employment Agencies, known as Ciett (its acronym in French). During this annual meeting, participants explore global market trends and developments and focus on how to combat challenges facing the international staffing industry. Representing ASA are chairman Aaron Green, CSP, of Professional Staffing Group; immediate past chairman Bill Yoh, TSC, CSP, of Yoh; and ASA president and chief executive officer Richard Wahlquist.

Labor markets around the world are facing unprecedented challenges, according to “Adapting to Change,” a report recently issued by the Boston Consulting Group on behalf of Ciett. The unpredictability of the global economy has left governments, businesses, and individuals struggling to tackle issues arising from high levels of unemployment, talent mismatches, and low levels of labor market participation—particularly among young adults. The report examines the contributions the staffing industry can make to the recovering global economy. During Wednesday’s opening plenary session, global delegates discussed how the report has helped positively shape perception of the industry in just the first few months since its launch.

To learn more about Ciett’s World Employment Conference, visit ciett2012.com.

Bloomberg (05/24/12) Alex Kowalski

The number of Americans who filed requests for jobless benefits fell by 2,000 last week to 370,000, the U.S. Department of Labor reported today. The initial claims matched the median estimate in a Bloomberg News survey of economists. Claims from two weeks ago were revised up to 372,000 from 370,000. The average of new claims over the past four weeks, meanwhile, dropped by 5,500 to 370,000, the lowest level in six weeks. Continuing claims decreased by 29,000 to a seasonally adjusted 3.26 million in the week ended May 12.

Reuters (05/24/12)

Orders for long-lasting goods edged up 0.2% in April, the second rise in three months after demand for cars and car parts picked up. The U.S. Commerce Department reported today that durable-goods orders reached a seasonally adjusted $215.5 billion after dropping 3.7% in March. Economists had forecast orders for durable goods to increase 0.5% in April. Orders were dragged down by a 2.8% decline in machinery and 34% fall in military aircraft. New orders of computers and electronic products fell 0.6%.

Patch.com (05/24/12) C. Zawadi Morris

As part of Small Business Week, May 20-26, the U.S. Internal Revenue Service hopes small-business owners will take advantage of an expanded Work Opportunity Tax Credit for hiring eligible unemployed veterans, with companies that hire veterans with service-related disabilities possibly qualifying for the maximum credit. The amount of the credit is based on how long the veteran was unemployed, how many hours the veteran worked, and the wages the veteran earned during the first year, with a maximum credit of $9,600 per veteran for for-profit employers and $6,240 for tax-exempt organizations. Employers typically have 28 days from when eligible workers start their jobs to file Form 8850 with the state work force agency, but a special rule gives them until June 19 to do so for veterans hired between Nov. 22, 2011, and May 22, 2012.