Firms See Increased Business Activity in August
Federal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia’s August Business Outlook Survey suggests that the region’s manufacturing sector is continuing to grow. The diffusion index of current general activity increased to 28.0 in August from 23.9 in July. The index has increased for three consecutive months and is at its highest reading since March 2011.
The current indicators for labor market conditions suggest continued modest expansion in employment. The percentage of firms reporting increases in employment (25%) exceed the percentage reporting decreases (16%). The employment index remains positive for the 14th consecutive month.
Obamacare Slows Hiring, Raises Prices in Five States: Fed Surveys
Investor’s Business Daily
(08/21/14) Jed Graham
Recent regional U.S. Federal Reserve Bank surveys indicate that the Affordable Care Act may be slowing the economic recovery, particularly in low-wage sectors. Eighteen percent of regional manufacturers told the Philadelphia Fed that they employ fewer workers due to the law, while 3.0% said they employ more workers. Eighteen percent said that they hired more part-time staff due to the law, and 1.5% have hired fewer part-time workers.
The New York Fed found that 22.0% of manufacturing and 17.0% of service firms have fewer employees because of the law, 20.0% in each sector have more part-time workers, and 5.0% have fewer part-time workers. The average workweek has dropped to 27.4 hours among private industries with average pay of $14.50 per hour, lower than during the recession, according to an analysis of U.S. Department of Labor data by Investor’s Business Daily
ASA State of the Industry Webinar Returns Next Month
Access the timely data, credible research, and strategic analysis your company needs to effectively stay ahead of industry trends and sharpen its competitive edge.
Join the American Staffing Association and corporate partner Inavero for the next ASA State of the Industry webinar. It’s part of a new quarterly series especially for staffing, recruiting, and workforce solutions companies. It takes place Tuesday, Sept. 23, 3–4 p.m. Eastern time. Space is limited, so register today.
Eric Gregg, chief executive officer of Inavero, will look at recent industry research, business trends, and prevailing legislative issues. This webinar also will feature a legal update from ASA general counsel Stephen Dwyer and a preview of the 2016 elections from ASA government affairs counsel Toby Malara.
Register today for the ASA State of the Industry webinar
. It’s free and qualifies for 1.0 active hour of continuing education toward ASA certification renewal.
Welcome New ASA Members
The ASA board of directors and staff welcome the following new members, which joined during the week of Aug. 11.
323 Staffing Solutions
All Office Staff Inc.
ECU Staffing Inc.
Reliable Temps Inc.
Top Notch Personnel
Tri-State Resources Inc.