Wall Street Journal (06/11/15) Kathleen Madigan
The healthy labor market is prompting consumers to spend, according to 66 economists polled by the Wall Street Journal, which likely will fuel the overall economy. Inflation-adjusted household spending is forecast to increase 2.7% this quarter and more than 3% in the third and fourth quarters, up significantly from the 1.8% gain realized during the winter.
Retail sales rose 1.2% in May. Excluding autos, sales rose 1%.
“Consumers are more secure in their jobs and that makes them more ready to spend,” says Joseph Carson of AllianceBernstein. The record level of job openings means businesses will continue to hire new employees, he says.
Exclusive Guide From Gibraltar—Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.