Kavaliro News Release (05/04/15)

National staffing firm Kavaliro has acquired San Francisco-based staffing firm Hynes & Co. The acquisition will give Kavaliro a West Coast presence.

Wall Street Journal (05/01/15) Kathleen Madigan

U.S. factories began the spring with more production and orders, but indications of declining employment put a damper on the labor market. The Institute for Supply Management said its index of manufacturing activity stood at 51.5 in April, unchanged from March. Prior to April’s flat reading, the overall factory index had fallen for five consecutive months, signalling slower expansion. A reading under 50 signifies contracting activity. Meanwhile, the ISM’s employment index fell to 48.3 last month from 50.0 in March, reaching a level not seen since 2009.

Still, “with the exception of employment, the subcomponents look upbeat for manufacturing,” says Bradley J. Holcomb, who oversees the ISM’s factory survey. Furthermore, the end of the West Coast port slowdown means manufacturers can ship their products more easily.

Wall Street Journal (05/01/15) Eric Morath

Consumer optimism rose in April, signalling the potential for stronger economic growth after a lackluster first quarter. The University of Michigan’s final April sentiment index increased to 95.9 from a final March reading of 93.0. The most recent reading was the second highest since 2007.

“Consumer sentiment remains positive,” says BNP Paribas economist Laura Rosner. Sentiment readings and growing disposable income “are important factors behind our forecast for a bounce” in second-quarter consumer spending, she says.

Economists polled by the Wall Street Journal had forecast the final April index would increase slightly to 96.0 from the preliminary reading of 95.9.