CorTech News Release (12/14/2015)

Atlanta-based CorTech LLC has acquired the assets of Integrated Staffing of Mauston, WI.

Wall Street Journal (12/17/15) Jon Hilsenrath; Ben Leubsdorf

The U.S. Federal Reserve yesterday announced it will increase interest rates. Fed officials plan to increase the benchmark federal-funds rate from near zero to between 0.25% and 0.5%, and will adjust their strategy as they see how the economy performs. New projections show officials expect the fed-funds rate to climb to 1.375% by the end of 2016, to 2.375% by the end of 2017, and to 3.25% in three years.

Federal Reserve Bank of Philadelphia (12/17/15)

Manufacturing activity in the Philadelphia region deteriorated in December, according to the Federal Reserve Bank of Philadelphia. The diffusion index for current activity returned to negative territory this month, decreasing from 1.9 to -5.9. This is the third negative reading in the past four months. The index for current new orders remained negative and fell six points, to -9.5. However, the current shipments index increased six points to a reading of 3.7.

The survey’s indicators for labor market conditions were slightly improved this month. The percentage of firms reporting increases in employment (16%) was slightly greater than the percentage reporting decreases (11%). The employment index increased nearly two points, from 2.6 to 4.1. Firms also reported an increase in average work hours in December. The workweek index registered its first positive reading in three months, increasing 22 points to 5.5.

MarketWatch (12/17/15) Jeffry Bartash

The number of people applying for unemployment benefits fell by 11,000 to a seasonally adjusted 271,000 in the week ended Dec. 12, according to the U.S. Department of Labor. Economists polled by MarketWatch had forecast claims of 275,000. The average of initial claims over the past month declined by 250 to 270,500. Jobless claims were below 300,000 for the 41st straight week—the longest such run since the early 1970s. The 300,000 threshold is associated with strong labor market conditions.