Economic News

Employers in 40 of 42 Countries and Territories Upbeat on Hiring

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U.S. Hiring Plans Remain Solid for Quarter 2 2015 U.S. employers expect to maintain healthy hiring plans during the second quarter, according to the latest Manpower Employment Outlook Survey, released today by ManpowerGroup. When seasonal variations are removed from the data, the Net Employment Outlook is +16% for the April – June timeframe, the same as the Q1 Outlook. The current forecast reflects an improvement from Q2 2014 when the Outlook was +13%. 

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Pennsylvania Governor Wolf’s GO-TIME Identifies Over $100 Million in Savings within First Two Weeks

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Governor Tom Wolf today announced that his administration has identified $109 million in projected cost savings and efficiencies within the first two weeks of the creation of the Governor’s Office of Transformation, Innovation, Modernization and Efficiency (GO-TIME).  Governor Wolf is also confident that given this progress, the office will exceed the $150 million mark mandated by his executive order for FY 2015-16.

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Confidence Rebounded Among Finance and Accounting Employees in Fourth Quarter 2014

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The Randstad Professionals’ Finance & Accounting Employee Confidence Index rebounded to 59.9 during the fourth quarter of 2014, up from 57.5 in the third quarter. The online survey of 163 finance and accounting employees was conducted in October, November and December of 2014 by Harris Poll on behalf of Randstad Professionals. Results indicated that confidence among finance and accounting workers grew in regards to the overall strength of the economy, as well as labor market conditions.

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Engineers Prioritize Pay over Culture as Talent War Cranks Up

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Experis, the global leader in professional resourcing within ManpowerGroup,  today revealed that increased pay is the top consideration for American engineers seeking a new job, while electrical engineers are in greatest demand by the country’s employers. The Survey, released ahead of National Engineers Week (22-28 February), found that 40% of engineers searching for a new position prioritize increased salary, bonuses and / or incentives.  In contrast, only 18% consider a better work environment or culture the most important factor. More interesting or challenging work, access to better professional training and career development or improved work / life balance are the biggest considerations for 17%.

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Billion Dollar Restaurant Industry Offers Job Flexibility for All

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$709 Billion Restaurant Industry Offers Job Flexibility, Career Advancement and Opportunities for All Ages, from Millennials to Seniors According to the latest infographic released today by the National Restaurant Association Educational Foundation (NRAEF), the $709 billion restaurant industry provides significant opportunities and career advancement, as well as job flexibility, for millions of Americans.

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For Every New Job, Two New Immigrants

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The Center for Immigration Studies reports that government data collected in December 2014 show 18 million immigrants (legal and illegal) living in the United States who arrived in January 2000 or later. But only 9.3 million jobs were added over this time period. Yet Congress is actually considering proposals to increase legal immigration even further. Policymakers continue to falsely claim a labor shortage and to disregard the long-term absorption capacity of the U.S. labor market, which has profound implications for American workers.

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IT and Engineering Employment Starts 2015 on A Strong Note

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The number of IT jobs grew 0.4 percent sequentially last month to 4,838,500, according to TechServe Alliance, the national trade association of the IT & Engineering Staffing and Solutions industry. On a year-over-year basis, IT employment has grown by 4.7% since January 2014 adding 216,800 IT workers. Engineering job growth strengthened in January, up 0.2 percent sequentially to 2,521,900.  On a year-over-year basis, engineering employment has grown by 1.8% since January 2014 adding 43,700 engineering workers.

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Restaurants Projected to Add Over 300,000 Jobs in 2015

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The National Restaurant Association’s Chief Economist Bruce Grindy breaks down the latest employment trends:  “The restaurant industry continues to be a driving force behind the nation’s recovery from the Great Recession, as industry job growth outstripped the overall economy for the 15th consecutive year in 2014. Eating and drinking places, the primary component of the restaurant industry accounting for three-fourths of the total restaurant and foodservice workforce, added jobs at a solid 3.5 percent rate in 2014, well above the 1.9 percent gain in total U.S. employment. 

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Private Company Optimism the Highest in Nearly a Decade

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Three-fifths of private companies plan to add fulltime equivalent employees in the coming year, but net hiring continues to shrink, reports PwC US’s latest Private Company Trendsetter Barometer®. Despite the most optimistic outlook for the US economy since 2006, employment growth at private companies remains modest due to difficulty in finding qualified workers, among other factors.

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