May employment soft, but not overly concerning —Staffing quote of the week

“The employment report for May was soft in several respects but not overly concerning. So far, monthly job growth has looked at times too strong followed by months that looked too weak,” said Cornerstone Staffing Solutions President and CEO Steve Drexel. “May falls into the moderately, too weak...

Autonomously driven ‘passenger economy’ could reach $7 trillion, Intel says

Human cloud firm Uber has already experimented with autonomous vehicles, and more automation will likely play increasing roles in the workforce solutions ecosystem. However, tech firm Intel Crop predicted last week that autonomous vehicles will result in a new “passenger economy” that could grow...

Michigan PEO acquires HR outsourcing firm

AccessPoint, a Michigan-based professional employer organization, acquired HR outsourcing firm YourSource Management Group in an effort to enhance its “unbundled” HR outsourcing service platform.

AccessPoint also plans to purchase the YourSource Management Group headquarters building in Auburn Hills,...

NABE economists lower projections for GDP forecast

Economists surveyed by the National Association for Business Economics lowered slightly their growth projections for the US economy in 2017, the association announced today. The median forecast calls real GDP growth of 2.2% for 2017, increasing to 2.4% for 2018. Both these forecasts are down 0.1 percentage...

Tata cuts H-1B visa applications by two-thirds (Nikkei Asian Review)

Tata Consultancy Services Ltd., an India-based IT services provider, reduced applications for the H-1B visas needed by Indian engineers to work in the US by almost 70% compared to two years ago, Nikkei Asian Review reported. Ajoy Mukherjee, the company’s head of global human resources, said the company...

Employment trends index rises, ‘no slowdown visible’

The Conference Board’s US Employment Trends Index increased in May to a reading of 133.70 from April’s upwardly revised reading of 132.77. The May reading, which followed a sharp increase in April, is up 6.4% from the same month a year ago.

“While employment numbers have shown some softness in the...

Exec search pioneer Russell Reynolds still in game at age 85 (Greenwich Sentinel)

“Opportunity is everywhere you look for it,” executive search pioneer Russell Reynolds Jr. told the Greenwich (Conn.) Sentinel newspaper. Reynolds founded executive search firm Russell Reynolds Associates and later executive search firm RSR Partners, which he still leads at 85 years old.

US nonmanufacturing economic index edges down but employment metric surges

Economic activity in the US nonmanufacturing expanded in May but at a slower pace than in April, according to the Institute for Supply Management’s nonmanufacturing index released today.

ISM’s nonmanufacturing index fell in May to a reading of 56.9 from April’s reading of 57.5. This represents continued...

US temp jobs rise almost 5%, but overall jobs growth misses forecast

Temporary help jobs rose by 4.89% year over year in May and the temp penetration rate reached an all-time high for the second month in a row, according to seasonally adjusted numbers released today by the US Bureau of Labor Statistics. Today’s revised data also decreased April’s previously reported...

US wage growth eases in May; median base pay for recruiters is $51,159

US wage growth decelerated slightly in May, according to data from Glassdoor. However, recruiters, as well as many healthcare and retail jobs, experienced faster-than-average wage growth across the US and in each metro covered by the reports.

The annual median base pay in the US grew 2.1% year over year...