Conference Board News Release (06/26/12)

The Conference Board Consumer Confidence Index, which had declined in May, fell further in June. The index now stands at 62.0 (1985=100), down from 64.4 in May. The Expectations Index declined to 72.3 from 77.3. The Present Situation Index, however, increased to 46.6 from 44.9 last month.

Says Lynn Franco, director of economic indicators at the Conference Board: “Consumer confidence declined in June, the fourth consecutive moderate decline. Consumers were somewhat more positive about current conditions, but slightly more pessimistic about the short-term outlook. Income expectations, which had improved last month, declined in June. If this trend continues, spending may be restrained in the short term. The improvement in the Present Situation Index, coupled with a moderate softening in consumer expectations, suggests there will be little change in the pace of economic activity in the near term.”

Reuters (06/26/12) Lucia Mutikani

The Organization for Economic Cooperation and Development says training programs are necessary to diminish the impact of long-term unemployment on the U.S. economy. The report from the Paris-based organization indicates that long spells of unemployment could boost structural unemployment, which it believes is close to 6% right now, by eroding workers’ skills and lessening their attachment to the labor force. According to the OECD, “Education and training are key to improving skills, (and) reducing mismatches between employer needs and work force skills.” To lessen jobless workers’ reliance on unemployment benefits, the OECD recommends programs that make them aware of job opportunities and assist in job searches, noting that the U.S. does not spend enough on re-employment services compared with other OECD countries.

MarketWatch (06/25/12)

Huron Consulting Group Inc. has announced the acquisition of AdamsGrayson, a managed review and legal staffing firm based in Washington, DC. AdamsGrayson will become part of Huron Legal, the legal consulting division of Huron Consulting Group.

Reuters (06/26/12)

TeamStaff Inc. has changed its name to DLH Holdings Corp. The company’s common shares will continue to trade on the Nasdaq Capital Market, and its new ticker symbol will be “DLHC” effective June 27 at the market’s open. In recent months the company undertook a major rebranding effort, which included the change in corporate name of its principal operating subsidiary to DLH Solutions Inc., the launch of a new corporate Web site, and other communications and marketing measures to establish the “DLH” brand.

Bloomberg (06/27/12) Shobhana Chandra

Orders for durable goods climbed more than forecast in May, with bookings rising by 1.1%, according to a U.S. Department of Commerce report released today. The May figure represents the first increase in three months. The median forecast of 76 economists surveyed by Bloomberg News called for a 0.5% gain. May’s gain was led by stronger demand for machinery, defense equipment, and cars. Orders for nondefense capital goods excluding aircraft increased by 1.6% after falling the prior two months, suggesting renewed confidence about the economic recovery.