Companies Offer Employees Overtime/Incentives During Holiday Upswings

In a recent poll on Refresh Leadership, Express Employment Professionals blog for business leaders, readers were asked how they plan to handle the extra workload during the holiday season. The results showed that nearly three out of 10 businesses plan to manage the seasonal upswing with current staff, but will offer overtime or incentives. Coming in second, 10% of respondents plan to hire temporary workers through a staffing company like Express, 3% will outsource projects, and 2.7% say they will hire additional full-time employees. While the holidays don't affect every business, one sector that is always significantly affected is retail. The Hay Group, a global management consulting firm, recently released their findings from their survey of retailers on expectations for the 2014 holiday season. According to the results, 24% of retailers predict a significant increase in year-over-year sales during the holiday shopping season, and 70% plan to hire workers at the same levels they did in 2013 to accommodate the increased business volume.
RefreshLeadership.com - Oct. 16, 2014

New Study Reveals Most Employable College Majors

Express Employment Professionals released survey findings that reveal which college majors make someone the most employable. The survey revealed that business tops the list, with more than a quarter of respondents saying it's the best major for securing employment. Engineering, accounting, nursing, and computer and information sciences also made the top five. Compared to last year, engineering increased in popularity by four percentage points, while computer and information sciences saw an eight percentage point decline. The findings come from the 2014 edition of the Express "America Employed" survey of 115 Express franchises across the nation. This is the second year Express has released findings from its "America Employed" survey. "Business is still a good bet for a college major, according to our survey," said Bob Funk, CEO of Express and former chairman of the Federal Reserve Bank of Kansas City. "Once again, our findings tell us that if you earn a degree that's associated with a particular skill set, you will do better in the job market.
PR Web - Oct. 8, 2014

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Temp Jobs Rise, Temp Penetration Rate Hits New High

The U.S. economy added 19,700 temporary services jobs in September, raising the temporary penetration rate to a new, all-time high of 2.1%, according to the U.S. Bureau of Labor Statistics. August temporary services jobs were also revised upward by 17,600. The temporary penetration rate is calculated by dividing the total number of temporary services jobs by the number of Americans currently employed. The total number of workers in the U.S. employed through staffing firms is nearly 3 million weekly. Year over year, temporary staffing growth remains high at 8.61%. Job growth in temporary services is usually a positive indicator of the current state of employment.
Staffing Industry - Oct. 3, 2014

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CEO Confidence Declines in Q3

After falling to 62 points in the second quarter, The Conference Board and PwC Measure of CEO Confidence continued to decline in the third quarter of 2014. The measure is currently at 59 points; a measure of 50 points or more reflect more CEOs offering positive responses than negative ones. Lynn Franco, Director of Economic Indicators at The Conference Board, explained that though their short-term growth expectations have softened, "CEOs say economic conditions have improved from the start of the year." CEOs also feel that current economic conditions have improved, as 52% claim conditions are better than six months ago, up from 46% in the second quarter. However, they are more pessimistic concerning their own industries' future growth, with only 34% expecting improvement in the next six months, down from 46% in the second quarter.
The Conference Board - Oct. 8, 2014

CareerBuilder Expects Strong Seasonal and Permanent Hiring in Q4

The current economic climate going into the fourth quarter looks encouraging for job seekers in the U.S. According to CareerBuilder's latest forecast, 29% of employers plan to hire full-time permanent employees in the final quarter of 2014, up from 25% from the same period in 2013. Only 9% of companies surveyed expect to decrease their staff. During the fourth quarter, 43% of retailers plan to hire seasonal workers. Across all industries, 26% plan on hiring seasonal help, and of those, 42% plan to transition some seasonal workers into full-time, permanent positions. When asked why they are hiring seasonal help, 46% said to help with the holiday season, 25% said to help with year-end commitments, and 24% said to get ready for 2015. The four most popular seasonal positons companies are hiring for are Customer Service (40%), Administrative/Clerical (15%), Shipping/Delivery (13%), and Accounting/Finance (12%).
CareerBuilder - Oct. 2, 2014

October Retail Sales Falter

Due in part to cautious consumers, retail sales fell in October, causing concern about a choppy retail sales pattern in 2014. According to the Commerce Department, though retail sales were up 4.3% year over year in September, spending at retailers fell 0.3% from August to September. As well as consumers spending less, they are also less optimistic about current conditions. According to The Conference Board, the Consumer Confidence Index also fell in September, following a post-recession peak in August. The less-than-expected turnout at stores shows that Americans are easing back while headed into the crucial holiday spending season.
Wall Street Journal - Oct. 15, 2014

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One-Third of Midsize Businesses Fined for Non-Compliance

According to a recent study by ADP Research Institute, a business services provider, more than one-third of midsize business with 50 to 999 employees have been fined or penalized for not complying with employment laws concerning how they manage their workforces. Of the penalized companies, 58% were unaware of the cost of the fines, and 47% were unaware of the plurality of being fined. Anish Rajparia, president of major account services at ADP explained that government agencies proposed 19,000 changes to laws and regulations in 2013 that directly impact how businesses are required by law to manage employees, "so it comes as little surprise that the level and volume of government regulation made our list of top concerns three years running." Survey results revealed that 69% of midsize businesses said healthcare benefits costs are the top concern, followed by the Affordable Care Act at 54% and the level of government regulations with 51%.
Staffing Industry Analysts - Oct. 13, 2014

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IMF Lowers Global Forecast Despite US Growth

Despite signs the U.S. has rebounded, the International Monetary Fund (IMF) lowered its forecast for 2014 and 2015. In its World Economic Outlook, the IMF expects that the global economy will expand 3.3% in 2014, down from the 3.4% forecast in July, and the economy will improve to 3.8% in 2015, also down from the 4% growth originally expected in an earlier forecast. The IMF suggests that growth in the U.S. and Great Britain will be offset by weakness in the European markets. The U.S. economy is expected to experience 2.2% growth in 2014, an improvement of 0.5 percentage points from the July forecast, and the U.S. should also continue its growth pattern and expand 3.1% in 2015.
Los Angeles Times - Oct. 7, 2014

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September 2014

The U.S. economy added 248,000 jobs in September, as the unemployment rate declined from 6.1% in August to 5.9%. The Professional and Business Services industry saw the largest growth in employment in September, adding 81,000 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: + 16,000
  • Manufacturing: + 4,000
  • Retail Trade: + 35,300
  • Professional & Business Services: + 81,000
  • Education & Health Services: + 32,000
  • Information: + 12,000
  • Transportation: + 1,900
  • Government: + 12,000

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