America’s 5000 Fastest-Growing Private Companies Revealed
Express Employment Professionals was recently named one of Inc. magazine’s fastest-growing private companies in the country. In addition, Express ranked in the top 10 on the 2008 Inc. 5000 lists for both revenue and gross sales. To see other Express-related news, click here. Express Employment Professionals – Oct. 1, 2008
Employers Communication Tested
With the current economic situation, many employees are worried about losing their jobs and the future of their financial investments, according to human resource experts. The increasing anxiety over the economic uncertainty has many employees calling their human resources consultants over these concerns. According to a recent survey of 711 adults at a benefits company, almost half reported being concerned and stressed over the current economic situation, and 48% reported feeling less productive at work. Experts in communication report that employers either offer little or too much information during a crisis instead of listening to the needs of their employees and then responding. Workforce.com – Oct. 10, 2008
Hewitt Projects Moderate Health Care Cost Increases for 2009
Health care costs are projected to increase by 6.4% for employers in 2009, according to a report released by Hewitt Associates. This report is comprised of more than 1,800 health care plans throughout the U.S., including 400 employers and over 13 million health plan participants. This is up slightly from the 6.0% increase in 2008. The report showed average healthcare cost per person increasing from $8,331 in 2008 to $8,863 in 2009. Experts say in addition to an increase in employee out-of-pocket costs, such as co payments, co insurance, and deductibles, employees are expected to pay 22% of the overall health care premium in 2009. CCH – Business & Corporate Compliance – Oct. 6, 2008
U.S. Pending Home Resales Rise
The pending home resales index unexpectedly increased by 7.4% in August as soaring foreclosures caused previously owned home prices to fall, according to the National Association of Realtors. Economists anticipated the index would fall by 1.3% for the month. Pending home resales are considered a leading indicator of the economy. Some resales may not close due to tighter lending from banks; however, the Federal Reserve cut interest rates to help ease the credit crisis. Bloomberg.com – Oct. 8, 2008
U.S. Gives Money to Help the Economy
The federal government reported that the United States treasury will pump $250 billion into financial institutions resulting in a huge investment of taxpayers’ dollars. Half of the $250 billion is expected to go to nine of the nation’s largest banks due to an agreement that gives preferred shares to taxpayers and limits executive pay. President Bush said, “this is an essential short-term measure to assure the viability of American’s banking system. These measures are not intended to take over the free market, but to preserve it.” CNNMoney.com – Oct. 14, 2008
Consumer Confidence Up Slightly
The consumer confidence index rose to 59.8 in September, up from a revised 58.5 in August, according to the Conference Board. The monthly consumer survey, based on 5,000 U.S. households, is a measure of consumers’ assessment of the nation’s economy. The present situation index, a measure of consumers’ opinions on current economic conditions, fell to 58.8 in September, down from 65.0 in August; however, the expectations index, a measure of consumers’ opinions on future economic conditions, increased to 60.5 from 54.1 in August. The Conference Board – Sept. 30, 2008
September 2008
The unemployment rate remained steady at 6.1% in September. Construction, trade, and manufacturing continued to see a decline in employment, while mining and healthcare continued to add jobs to their payrolls. Click here for the most recent employment report from the Bureau of Labor Statistics.
Major Industry Employment:
• Construction: - 35,000
• Manufacturing: - 51,000
• Retail Trade: - 40,000
• Professional & Business Services: - 27,000
• Educational & Health Services: + 25,000
• Leisure & Hospitality: - 17,000
• Government: + 9,000
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Economic Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2008.