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Elance Merges With ODesk to Boost Service for Freelancers

Bloomberg (12/18/13) Ari Levy

Freelance sourcing websites Elance Inc. and ODesk Corp. have announced plans to merge. Fabio Rosati, chief executive officer of Elance, will head the combined entity.

U.S. Jobless Claims Unexpectedly Rise on Holiday Distortions

Bloomberg (12/19/13) Michelle Jamrisko

Jobless claims rose by 10,000 to 379,000 in the week ended Dec. 14, according to the U.S. Department of Labor. The increase was a nearly nine-month high, reflecting the fluctuation in claims that often occurs near the end-of-year holidays. Economists polled by Bloomberg had forecast a decline to 336,000. The four-week moving average rose to 353,500 from 330,250 a week earlier.

Fed Dials Back Bond Buying, Keeps a Wary Eye on Growth

Wall Street Journal (12/19/13) Jon Hilsenrath; Victoria McGrane

U.S. Federal Reserve Chairman Ben Bernanke yesterday said at a press conference that the U.S. economy has improved and that the central bank will begin winding down its bond-buying program in January. The Fed will buy $75 billion a month in mortgage and Treasury bonds as of January—down from $85 billion. Bernanke said the central bank will look to cut its purchases in $10 billion increments at subsequent meetings, but he warned, “the steps that we take will be data-dependent.”

The bond-buying program would be completed by the end of 2014, with nearly $4.5 trillion in bonds, loans, and other assets held. Bernanke will remain chair of the Fed until Jan. 31; he will preside over one more policy meeting Jan. 28-29.

Join Today and Be Ready for the ACA

To comply with the Affordable Care Act, your firm may need to start tracking full-time employees on Jan. 1, 2014. Are you ready for what might come next? Join ASA today for immediate access to the information, resources, and expertise your company needs to stay ahead of the ACA.

Plus, if you join by tomorrow, Dec. 20, you’ll receive a FREE copy of the latest Staffing Success magazine, which features a comprehensive package of ACA-focused articles—all aimed at helping firms stay ahead of impending ACA mandates.

And as an ASA member, you’ll have receive all the member benefits that staffing and recruiting professionals rely on from the association that is the voice of the staffing industry. Call the ASA membership team at 703-253-2020 or join online at americanstaffing.net/join.