Overall economic activity expanded from mid-May through June, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Across districts, employment levels increased or were steady in most sectors, although there were some reports of layoffs in manufacturing and energy industries. Labor market tightness was reported in four of the 12 districts. Firms from several districts continued to describe shortages for particular types of skilled labor, predominantly in the construction industry. Most districts cited only modest wage pressures aside from positions that required specialized skills or were in high demand.
Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Industrial Production Rises More Than Expected in June
Wall Street Journal (07/15/15) David Harrison
U.S. industrial production rose a seasonally adjusted 0.3% from May to June, according to a report from the U.S. Federal Reserve on Wednesday. The report indicated that industrial output dropped at an annual rate of 1.4%. Capacity utilization hit 78.4%, up 0.2 percentage points, which means there has been a rise of 2.6 percentage points over the past year. Auto and auto parts manufacturing dropped 3.7% in June, but output elsewhere in the sector rose 3.7% and manufacturing output did not change. There was a 1% increase in the mining sector last month, a shift from the 2.1% drop in mining production in May. Output in the utilities sector rose 1.5% in June, keeping with the 1.2% increase in May, and the 4.3% overall growth over the past 12 months. The June data puts an end to the six consecutive months in which industrial production failed to record an increase.
Jobless Claims Drop 15,000 to 281,000, Erasing Prior Spike
MarketWatch (07/16/15) Jeffry Bartash
The U.S. Department of Labor reported that new applications for U.S. unemployment benefits dropped by 15,000 to 281,000 in the seven days ended July 11, erasing a large increase from the previous week that stemmed from retoolings at auto plants and other seasonal quirks. Economists surveyed by MarketWatch had forecast initial claims to fall to 287,000 from a revised 296,000. The average of new claims over the past month increased by 3,250 to a seasonally adjusted 282,500, according to the department. Continuing jobless claims declined by 112,000 to 2.2 million in the week ended July 4.
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Secure Your Accommodations for Staffing World® 2015
There are just a few weeks remaining before the advance registration deadline for Staffing World, the ASA annual convention and expo. You can save up to $150 per person when you register by Sept. 11.
Time is also running out for Staffing World attendees to make their reservations at the Gaylord Opryland Resort & Convention Center—the site of Staffing World. Rooms are expected to sell out well before Oct. 1 (the deadline to book a room at the ASA Staffing World 2015 rate). Visit staffingworld.net for hotel details.
Visit staffingworld.net to register for Staffing World today, and book your hotel room at the Gaylord while there is still availability.
Free ASA Webinar Today—Best Tactics for Attracting Candidates
Don’t miss the ASA webinar “Best Practices for Recruiting Optimization.” It takes place today from 3 to 4 p.m. Eastern time. Learn how to get greater numbers of motivated candidates to respond to your recruitment efforts.
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.
Diverse Employer Coalition Endorses Changes to ACA IRS Reporting Rules
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Court Adopts Joint Employment Test, Finds Staffing Client Joint Employer
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FCC Order Creates New TCPA Challenges for Companies
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Deductions From Employee Paychecks—Indiana Makes Some Welcome Changes
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Maryland Minimum Wage = $8.25
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Oregon Employers Should Be Aware of More New Laws
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Wage and Employment Growth Accelerating for Millennials
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Unemployment Is Low but More Workers are Leaving the Workforce
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