ASA Staffing Index: January Staffing Edges Upward
Staffing employment is up 0.92% compared with the same month last year, according to the ASA Staffing Index
The index value for the month of January is 90, indicating that staffing employment has increased 12.55% over the past 30 days. Typically, staffing employment peaks between mid-November and mid-December each year, after which it dramatically declines for several weeks before turning upward in mid-January.
The Staffing Group Announces a Share Exchange Agreement With EmployUS Ltd.
The Staffing Group Ltd. today announced that, effective Jan. 13, it has entered into a share exchange agreement with staffing company EmployUS Ltd., with which it had previously executed a letter of intent. Pursuant to the share exchange agreement, EmployUS will exchange all of its shares of common stock for shares of the Staffing Group’s common stock. Upon closing of the transaction, EmployUS will become a wholly owned subsidiary of the Staffing Group.
IMF Raises Outlook for U.S., Global Economy
The International Monetary Fund has raised its 2014 global economic outlook to 3.7% from 3.6% in October, and says the U.S. is leading the recovery worldwide. The IMF raised its forecast for U.S. economic growth this year to 2.8% from 2.6%. It also downgraded its 2015 growth forecast for the U.S. to 3.0% from 3.4%, because the recently formulated federal budget left spending cuts in place that the IMF previously had expected to be repealed.
The IMF says that the U.S. should exercise caution and not rescind prematurely the economic support being provided by the U.S. Federal Reserve.
Belcan Launches BelFlex Staffing Network
The Staffing Solutions Division of Belcan Corp. has been rebranded BelFlex Staffing Network and launched as a sister company to Belcan, effective Jan. 9. Belcan Corp. will continue to focus on providing engineering solutions to clients around the world, while BelFlex will provide flexible staffing solutions to light industrial customers in North America. BelFlex’s ownership and management team will remain the same.
Recession’s True Cost Is Still Being Tallied
New York Times
(01/22/14) Eduardo Porter
The full tally of the financial markets’ collapse in 2008-09 is still a mystery, though economists with the Federal Reserve Bank of Dallas estimate that the financial crisis cost each American nearly $20,000. The broader impact on workers’ well being, however, could raise the cost of the crisis to about $120,000 per person in the U.S.
Target Cuts Health Coverage for Part-Time Workers
Wall Street Journal
(01/21/14) Paul Ziobro; Louise Radnofsky
Target Corp. will stop offering health coverage for part-time employees, stating that insurance options are available through public exchanges. The company will stop covering part-time employees on April 1. The change affects less than 10% of Target’s 360,000 person workforce. Each affected employee will be compensated with $500.
Other large corporations, such as United Parcel Service, also have reduced the health coverage they offer. Meanwhile, Target has announced it will not trim its workers’ hours in response to the Affordable Care Act.
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