U.S. Job Markets are Returning to Peak Employment
Wall Street Journal
(06/19/15) Jeffrey Sparshott
A new report from the U.S. Conference of Mayors finds that more than half of U.S. metropolitan areas have surpassed prerecession employment. “Soon, half of all metros will have unemployment rates below 5%, with fully employed economies, reaching their potential in providing jobs and income for their residents and generating higher levels of growth,” according to the report, prepared by IHS Global Insight for the mayors’ group. However, nearly one-third of cities are expected to remain short of that mark by the end of 2016. “It will still be the case that 130 metros will enter 2017 with fewer jobs than they supported almost a decade ago,” the report said. The areas recovering slowest are largely older Midwestern communities hurt by the loss of heavy manufacturing jobs, aging population, and deteriorating infrastructure.
Manufacturing Improved in June in Philadelphia Region
Federal Reserve Bank of Philadelphia
Manufacturing activity in the Philadelphia region improved in June, increasing over the readings in May, according to firms responding to this month’s Manufacturing Business Outlook Survey by the Federal Reserve Bank of Philadelphia. The diffusion index of current activity, the survey’s broadest measure of manufacturing conditions, was consistent with these position indicators, increasing from May’s 6.7 to 15.2 this month.
Firms’ responses suggest modest expansion in employment in June. The percentage of firms reporting an increase in employees in June (22%) exceeded the percentage reporting a decrease (18%). However, the current employment index fell almost three points, to 3.8. Firms did report a slight overall increase in the workweek—the workweek index increased from -5.6 to 4.7.
Welcome New ASA Members
The ASA board of directors and staff welcome the following new members, which joined during the week ending June 14.
CB Quality Staffing LLC
FDR Safety LLC
HB Gado Driving Ltd.
Lone Star staffing LLC
The Woodlands, TX
Prodigy Placements LLC
Top Professional Network
Rancho Cucamonga, CA
In yesterday’s issue of Staffing Today
, U.S. gross domestic product contraction was misreported as 0.2%. GDP contraction in the first quarter of 2015 was 0.7%.