BG Staffing Group News Release (09/29/15)

Plano, TX-based BG Staffing Inc. has acquired the Columbia, MD-based Vision Technology Services family of companies. Vision Technology Services is an information technology staffing and project management services provider.

Conference Board News Release (09/29/15)

The Conference Board Consumer Confidence Index, which had increased in August, improved moderately in September. The index now stands at 103.0, up from 101.3 in August. The Present Situation Index increased from 115.8 last month to 121.1 in September, while the Expectations Index edged down from 91.6 in August to 91.0 in September.

“Consumer confidence increased moderately in September, following August’s sharp rebound,” says Lynn Franco, director of economic indicators at the Conference Board. “Consumers’ more positive assessment of current conditions fueled this month’s increase, and drove the Present Situation Index to an eight-year high. Consumers’ expectations for the short-term outlook, however, remained relatively flat, although there was a modest improvement in income expectations. Thus, while consumers view current economic conditions more favorably, they do not foresee growth accelerating in the months ahead.”

Consumers were somewhat mixed about the job market. Those stating jobs are “plentiful” increased from 22.1% to 25.1%, while those claiming jobs are “hard to get” also rose from 21.7% to 24.3%.

Wall Street Journal (09/28/15) Jeffrey Sparshott

Personal spending rose 0.4% in August from a month earlier, according to the U.S. Department of Commerce. Spending, not adjusted for inflation, also rose 0.4% in July. Personal income increased 0.3% in August. Meanwhile, hiring was strong, unemployment fell, and wages increased. Some economists revised upward their estimates for third-quarter gross domestic product growth following the Commerce Department report.

Federal Reserve Bank of Dallas (09/28/2015)

Texas factory activity was essentially flat in September, according to the Federal Reserve Bank of Dallas. The production index remained near zero (0.9), suggesting output held steady for a second month in a row after several months of declines. The new orders index posted a second negative reading but rose 8 points to -4.6. The shipments index rose to near zero from -3, and the capacity utilization index posted its first positive reading in eight months, coming in at 4.9.

Labor market indicators reflected employment declines and shorter workweeks. The September employment index posted a fifth consecutive negative reading, falling to -6.1. Twelve percent of firms reported net hiring, while 18% reported net layoffs. The hours worked index fell markedly from 0.6 to -11.1, suggesting a decline in workweek length from August.