ADP Says Companies in U.S. Added 198,000 Workers in February
(03/06/13) Shobhana Chandra
Private-sector employment in February beat expectations, as the economy gained 198,000 private jobs, Automatic Data Processing Inc. reported today. The median forecast of 41 economists surveyed by Bloomberg called for an advance of 170,000. Sustained hiring by businesses, even as lawmakers in Washington were sparring over budget reductions, signals there is enough demand to support consumer spending. A U.S. Department of Labor report this week may show private payrolls rose by 167,000 last month, according to the Bloomberg survey median.
Service Industries in U.S. Grow at Fastest Pace in a Year
(03/05/13) Michelle Jamrisko
Service industries in the U.S. grew in February at the fastest pace in a year as a recovery in housing echoed through the economy. The Institute for Supply Management says that its nonmanufacturing index unexpectedly rose from 55.2 in January to 56. Any reading above 50 signals growth in the industries comprising 90% of the U.S. economy. “The service sector is gaining some momentum,” says Jeffries LLC economist Tom Simons. “The labor market has been broadly improving. For services, there are some knock-on effects from gains in manufacturing as well.” Thirteen nonmanufacturing industries registered growth in February, while five reported that business contracted.
Surging Part-Time Work Distorts Jobs Picture
(03/04/13) Dennis Jacobe
Part-time jobs accounted for 20.6% of the work force in February, up from 17.6% in July, according to Gallup. Experts attribute the surge in part-time jobs to employers being hesitant to hire permanent workers due to economic uncertainties and provisions in the Affordable Care Act that impose additional requirements on those hiring permanent employees. Dennis Jacobe, chief economist at Gallup, says the rise in part-time jobs will not benefit Americans or the economy, as such jobs generally do not provide enough money for workers to support themselves or a family, offer limited benefits, and make it difficult for employees to obtain the work experience needed to move into higher-paying jobs. Moreover, part-time jobs put a damper on economic growth because they make it difficult for workers to form new households and purchase items tied to family formation. Jacobe says the rise in part-time jobs distorts the U.S. job situation, noting that workers are taken off unemployment but left underemployed and that part-time jobs are sometimes double-counted by the government’s establishment survey.
Economic Modeling Specialists Tool to Assist Businesses With Total Work Force Planning
Kelly Services News Release
In response to a growing demand by businesses for targeted employment data, Kelly Services and Economic Modeling Specialists International, a unit of ASA corporate partner CareerBuilder, have developed a data analytics tool designed to evaluate labor market trends. The Talent Market Analyst is an innovative work force planning tool, featuring key insight to support both long-term strategic planning and short-term sourcing activities. Data is collected from more than 90 credible sources, updated quarterly, and kept current with modeling projections to provide businesses with a unique perspective on current and future employment trends.
ASA Headquarters Closed March 6
Due to severe weather in the Washington, DC, area, ASA is closed today.
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