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Massive GDP Plunge

Business Insider (06/25/14) Sam Ro

U.S. gross domestic product contracted by a 2.9% annualized rate in the first quarter, according to the U.S. Bureau of Economic Analysis. This revised estimate was down substantially from the previous estimated contraction of 1.0% and much worse than the expected 1.8% contraction. Personal consumption growth was cut to 1.0% from 2.4%.

U.S. Durable Goods Unexpectedly Fall in May

Reuters (06/25/14) Lucia Mutikani

Orders for durable goods declined in May, while a measure of capital spending plans increased. Durable goods orders fell 1.0%, according to the U.S. Department of Commerce, partly due to a decline in orders for defense capital goods. Economists surveyed by Reuters had forecast flat orders for May. Nondefense capital goods orders excluding aircraft, an indicator of potential business spending plans, rose 0.7%. Economists had forecast a rise of 0.5%.

Fed’s Plosser Sees Growth Exceeding 2.4% Amid More Job Gains

Bloomberg (06/24/14) Matt Boesler; Nina Glinski

Federal Reserve Bank of Philadelphia President Charles Plosser says he is “fairly optimistic” that the economy will exceed 2.4% growth for the rest of 2014 and 2015 given steady job growth. The expansion likely will slow to 2.4% after 2015, Plosser told the Economic Club of New York.

“The rebound after the bad winter seems to be progressing, the outlook for unemployment is a bit better, and the inflation rate appears to be firming,” Plosser said. “Current data suggest economic strength is fairly broad-based, as witnessed by recent performance and the optimism expressed by firms in many manufacturing and service sectors.”

Fifth District Survey of Manufacturing Activity

Federal Reserve Bank of Richmond (06/24/14)

A recent survey by the Federal Reserve Bank of Richmond shows a slight increase in manufacturing activity in the mid-Atlantic region in June, though manufacturing employment weakened. The manufacturing employment index dropped to three in June from 10 in May. Numbers above zero indicate growth.

Meanwhile, the index for the average workweek rose four points to seven, and the index for average wages fell 10 points to 12. During the next six months, survey participants expect hiring to pick up, wage growth to strengthen, and the average workweek to increase.

Could Contingent Staffing Save the VA?

Society for Human Resource Management (06/17/14) Steve Bates

Staffing companies could play a role in repairing the U.S. Department of Veterans Affairs’ troubled health care system, the largest integrated health care system in the country. The department does not have an effective way to determine whether clinics are staffed appropriately and does not know what staffing scenarios would help. Experts say the department should look to the staffing industry for help and explore contingent staffing as well as create a flexible workforce. Other ideas include bringing in physician assistants, outsourcing to relieve patient backlogs, streamlining the onboarding process, and reducing screening requirements for professionals with experience in the department.

Free ASAPro Webinar Tomorrow—Find Passive Candidates on LinkedIn

If you want to attract the highly sought-after passive candidates, you must become an expert on LinkedIn. Find out how to separate yourself as a master sourcer by understanding this recruiting tool during the ASAPro webinar “Master the Ins and Outs of LinkedIn Sourcing.” It takes place tomorrow, June 26, 3–4 p.m. Eastern time.

All ASAPro webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit

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

Time Is Running Out—Submit an Entry to the ASA Care Awards

Whether your firm spearheaded a successful environmental stewardship campaign or helped organize a scholarship fund designed for students in need, submit an entry to the 2014 ASA Care Awards—which recognize current corporate social responsibility (CSR) best practices among ASA member companies, industry suppliers, and affiliated chapters. A panel of CSR experts will review entries and select the winners. Honorees will be recognized at Staffing World®, Oct. 13–15 in metro Washington, DC, and featured in this newsletter and in Staffing Success magazine.

The deadline for submissions is next Tuesday, July 1. For more information and to submit an entry, visit ASA Central.