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Mitchell Martin Acquires Therapists on Demand

Mitchell Martin (01/23/15)

Mitchell Martin Inc. has acquired the operating assets of Therapists on Demand Inc., a Philadelphia-based health care staffing and permanent placement firm. TOD specializes in the placement of physical therapists, occupational therapists, and speech language pathologists in clinical settings.

The Conference Board Consumer Confidence Index Increased Sharply

Conference Board News Release (01/27/15)

The Conference Board Consumer Confidence Index rose from 93.1 in December to 102.9 in January. The Present Situation Index rose from 99.9 to 112.6, and the Expectations Index increased from 88.5 to 94.6.

“Consumer confidence rose sharply in January, and is now at its highest level since August 2007,” says Lynn Franco, director of economic indicators at the Conference Board. “A more positive assessment of current business and labor market conditions contributed to the improvement in consumers’ view of the present situation. Consumers also expressed a considerably higher degree of optimism regarding the short-term outlook for the economy and labor market, as well as their earnings.”

Consumers anticipating more jobs in the months ahead increased from 14.6% to 16.7%, while those anticipating fewer jobs declined from 16.5%to 15.0%.

ASA Staffing Index Rises to 96.18

American Staffing Association (01/27/15) Cynthia Poole

Staffing employment for the week of Jan. 12–18 rose to 96.18, according to the ASA Staffing Index—a record high for the third week of the year. Temporary and contract staffing employment increased 1.12% from the prior week, and was 5.41% higher than the same week last year.

That same week also will be used in the January monthly employment situation report, which will be issued by the U.S. Bureau of Labor Statistics Feb. 6.

Texas Manufacturing Activity and Employment Flat

Federal Reserve Bank of Dallas (01/26/2015)

Texas factory activity was flat in January, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, came in at 0.7, indicating output was essentially unchanged from December.

Labor market indicators reflected unchanged workweeks but continued employment increases. The employment index was 9.0 in January, slightly below last month’s level but close to its average reading over the past two years. Twenty percent of firms reported net hiring compared with 11% reporting net layoffs. The hours worked index edged down from 0.7 to -0.1, indicating no change in hours worked in January. The wages-and-benefits index receded from 25.2 to 19.1, suggesting some moderation in upward pressure on compensation costs.

Durable Goods Orders Fall Sharply in December

Wall Street Journal (01/27/15) Josh Mitchell; Jeffrey Sparshott

Durable goods orders declined for the second straight month in December, a sign of weaker business spending. Orders fell by 3.4%, according to the U.S. Department of Commerce. Economists polled by the Wall Street Journal had forecast orders would increase by 0.3%. Excluding the transportation category, orders declined 0.8%. Orders for nondefense capital goods—excluding aircraft—declined 0.6%.

CBO: Deficit to Narrow, Then Widen in ’18

Wall Street Journal (01/26/15) Nick Timiraos

Current budget restraints, stronger economic growth, and other factors will reduce the federal deficit into 2017, before the deficit begins to widen again in 2018, according to the Congressional Budget Office. CBO finds that the budget deficit for the current fiscal year ending Sept. 30 will reach $468 billion, slightly less than the deficit recorded in 2014 and significantly lower than 2013.

The unemployment rate is expected to drop to 5.5% at the end of this year, and inflation will remain at less than 2.0% for the next few years, CBO says.

Free ASA Webinar Next Month—The ADA and FMLA

Do you know how to manage Family and Medical Leave Act leave and Americans With Disabilities Act compliance for temporary employees placed at a client’s site? Learn about employer obligations under the FMLA and ADA during the ASA webinar “Key Knowledge for Staffing Firms: The FMLA and ADA.” It takes place Thursday, Feb. 12, 3–4 p.m. Eastern time.

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