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Mastech Holdings Inc. Reports Fourth-Quarter and Full-Year 2014 Results

Mastech Holdings News Release (01/28/15)

Mastech Holdings Inc. reported revenues of $28.55 million in the fourth quarter of 2014, up 0.25% from $28.48 million in the fourth quarter of 2013. Net income totaled $782,000, down 18.6% from net income of $961,000 in the year-ago quarter.

The company reported revenue of $113.5 million for all of 2014, up 6.0% from $106.9 million in 2013. Net income from continuing operations totaled $3.4 million, up 3.0% from $3.3 million the previous year.

On-Demand Workers: ‘We Are Not Robots’

Wall Street Journal (01/27/15) Lauren Weber; Rachel Emma Silverman

Companies such as Uber Technologies Inc., Handybook Inc., and TaskRabbit that use mobile applications that allow consumers to summon one of their freelance laborers believe they are ushering in a new, flexible future of work in which people perform only the jobs they want, when they want. However, lawsuits, protests, and forums indicate that flexible workers are not as enthusiastic about on-demand work, because they have little control over the terms of their labor.

The lawsuits filed against these companies center on worker classification, with experts noting that app-enabled workers do not fit neatly into the definition of an employee in a traditional work or independent contractor relationship. Experts believe the issues will be decided by the companies and the courts, because laws to change the system are not expected in the near future.

Mid-Atlantic Manufacturing Sector Expanded Modestly

Federal Reserve Bank of Richmond (01/27/15)

Manufacturing activity grew modestly in the Mid-Atlantic states in January, according to the most recent survey by the Federal Reserve Bank of Richmond. Shipments increased at a faster pace this month, while the volume of new orders remained steady. Manufacturing employment and average wages grew at a slower pace this month. The employment index declined from 13 in December to 5 in January. The average wage indicator fell from 8 to 3.

U.S. Consumer Confidence Surges to Highest Level Since 2007

Wall Street Journal (01/27/15) Kathleen Madigan

Consumers have an exceptionally positive view of the economy, according to the Conference Board. The board’s consumer confidence index rose from a revised 93.1 in December to 102.9 in January and is at its highest level since August 2007. Economists polled by the Wall Street Journal had forecast a reading of 95.1.

The present situation index rose from a revised 99.9 in December to 112.6 in January. Consumer expectations for economic activity over the next six months rose from an unrevised 88.5 to 96.4. The present situation index is at its highest level since January 2008, while consumer expectations are the best since February 2011.

“A more positive assessment of current business and labor market conditions contributed to the improvement in consumers’ view of the present situation,” says Lynn Franco, director of economic indicators at the board. “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.” This month, some 20.5% of consumers say jobs are “plentiful,” compared with 17.2% who thought that last month. Another 25.7% say jobs are “hard to get,” down from 27.3% last month.

Present a Section Forum at Staffing World® 2015—Proposals Due Friday

Jan. 30 is the deadline to submit proposals for presenting Section Forums at Staffing World 2015, the ASA annual convention and expo. Section Forums are presentations specific to an industry sector—health care; industrial; office–administrative; professional; search and placement; or technical, IT, and scientific.

Proposals for ASA webinars are also accepted, throughout the year, though earlier submissions get priority. For more information and to download submission guidelines, visit americanstaffing.net.