Increasing Minimum Wage: Employer vs. Employee Perceptions

Recently, Express Employment Professionals released the results of a national survey of employers about the proposed increase in minimum wage. According to the results, if the minimum wage were raised to $10.10 an hour, 38% of employers who currently pay employees minimum wage said that they would have to let some employees go to cover the cost. Among the same group, 54% said they would reduce hiring, and 65% said they would raise prices on their goods and services. In a separate poll, Express surveyed workers and job seekers. Results showed 35% of respondents believe there will be fewer full-time jobs and more part-time jobs, while 33% expect fewer job opportunities. Only 16% believe a higher minimum wage will create better job opportunities. Though arguments can be made to support each side, the result on employment won’t be known until the wage is actually raised.
Refresh Leadership – April 14, 2014

White Paper Questions the Conventional Wisdom of Going to College

Express Employment Professionals released a new white paper exploring the benefits of Career Technical Education (CTE) and challenging the conventional wisdom that a four-year college is the best post-secondary education option in today’s economy. Titled “Caution: College May Not be For Everyone,” this white paper takes an in-depth look at CTE, or vocational education, and its comparative benefits over a bachelor’s degree. According to Bob Funk, CEO of Express, CTE does not get the attention it deserves in America. “I see who’s getting hired in the modern economy, and it’s clear career tech can lead to not only a job, but also a successful career,” Funk said. “America has to wake up: as a country we are falling behind the rest of the world in CTE.” Download the white paper.
PRWeb – April 2, 2014

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Acceleration in Temp Jobs, Penetration Rate at All-Time High

The U.S. staffing industry added 28,500 temporary jobs in March 2014, up 9.6% from March 2013, according to the Bureau of Labor Statistics. The year-over-year increase is the largest in temporary jobs since July 2012. The staffing boom in March helped the temporary penetration rate – the amount of temporary help jobs divided by total nonfarm employment – reach an all-time high of 2.06%. The previous record of 2.02% was reached in February 2014, which matched the record set in April 2000 during the dot-com boom. Gains in temporary services jobs are often a positive indication of the overall economic and employment health of the nation.
Staffing Industry – April 4, 2014

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US Hiring to Stay on a Steady Course

In the first quarter of 2014, 29% of U.S. companies hired full-time, permanent employees, yet only 27% expected to add on staff. Conversely, 11% of employers laid off employees, down from 12% the previous year, while 59% said there was no change in full-time employment. In the second quarter of 2014, 26% of employers plan to add full-time, permanent staff. Industries expecting to see the highest growth in employment include Information Technology, Financial Services, and Manufacturing.
CareerBuilder – April 3, 2014

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CEO Confidence Reaches a Two-Year High

After increasing in the fourth quarter of 2013, CEO confidence about current economic conditions and future expectations continued to improve during the first quarter of 2014. According to the Conference Board and PricewaterhouseCoopers Measure of CEO Confidence, CEO confidence is at 63, up from 60 in the previous quarter. (A measure of 50 or more indicates a more positive than negative view among CEOs.) According to the index, 54% of CEOs claim conditions are better now than they were six months ago, up from 44% in the previous quarter. The short-term outlook is also improving, as 60% expect conditions to improve over the next six months, up from 50% from the previous quarter.
Conference Board – April 9, 2014

US Retail Growth Slows Down

Although confidence in economic growth among economists is growing, consumer spending stalled in March. National chain-store sales fell 0.5% in March, according to Redbook Research. Moreover, according to Gallup’s recent consumer spending index, retailers posted zero year-over-year growth in March. Analysts view the lower consumer spending during the past few months as an effect of the harsh winter. Experts still expect the economy to rebound soon and post its strongest year-over-year growth in ten years.
Wall Street Cheat Sheet – April 8, 2014

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March 2014

The U.S. economy added 192,000 jobs in March, as the unemployment rate remained unchanged at 6.7%. The Professional & Business Services industry saw the largest growth in employment in March, adding 57,000 positions. Learn more from the recent employment report from the Bureau of Labor Statistics and view the unemployment rate in your state.

Major Industry Employment:

  • Construction: + 19,000
  • Manufacturing: - 1,000
  • Retail Trade: + 21,300
  • Professional & Business Services: + 57,000
  • Education & Health Services: + 34,000
  • Information: + 2,000
  • Transportation: + 7,900
  • Government: + 0

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Employment Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2014.