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America Inc. Wakes Up to Wage Inflation

Wall Street Journal (06/20/14) Justin Lahart

Although the unemployment rate fell to 6.3% in May from 7.5% a year ago, the percentage of working-age Americans out of the labor force has climbed to 37.2% from 34.0% when the recession started, with workers unlikely to return to the job market because they are nearing retirement or their skills have eroded. U.S. Federal Reserve Chairman Janet Yellen said recently that she will know the labor market is tightening when wages rise more rapidly, but that has not happened yet, with average hourly wages up only 2.1% in May and less when adjusted for inflation.

However, chief financial officers polled by Duke University and CFO Magazine anticipate a 3.0% increase in wages and salaries over the next 12 months, up from 2.5% in June 2013, and a 1.9% boost in their workforces, up from 0.8% a year ago. To pay for the expansion in their workforces, respondents said prices will rise 2.6% over the next year, up from the 1.5% they forecast a year ago.

Staffing World® 2014 Is Coming—Register Today and Save

Staffing World 2014, the largest, most comprehensive convention and expo in the staffing, recruiting, and workforce solutions industry, takes place Oct. 13–15 at the Gaylord National Resort and Convention Center in metro Washington, DC—and you can save up to $150 per person when you register by Sept. 5.

Get more information and register online at staffingworld.net.

Add Value to Your Client Relationships and Increase Loyalty

Giving superior customer service can increase loyalty and client retention rates. One way to provide that extra-special service is to be well versed in employment and labor law. If you can make clients aware of their employment obligations and responsibilities, you may help them avoid legal missteps that could result in costly legal proceedings—demonstrating your commitment to them and solidifying your relationship.

The Certified Staffing Professional®, Technical Services CertifiedSM, and Certified Search Consultant® credentials can enhance your competency in and knowledge of labor and employment law. The facts obtained through these certification programs can help protect staffing professionals and their clients from making potentially costly mistakes.

To learn more, listen to a recording of the ASAPro webinar “Gain a Competitive Advantage With ASA Certification” on ASA Central—it’s free for ASA members. This webinar dives into new opportunities for certified individuals—including CSC®, the newest credential—offers insight into how ASA certification benefits you and your staffing firm, explains the study preparation tools that may best suit your learning style, and much more.

Get certified in five easy steps:

  • Purchase the study materials.
  • Review the study resources provided with your choice of CSP®, TSCSM, or CSC exam package.
  • Take the practice exam to identify potential areas of weakness.
  • Review pertinent portions of the study materials.
  • Pass the online exam.

Protect yourself and your clients by purchasing the study materials at americanstaffing.net and getting certified today.