Workforce Weekly: Week 22
Let’s Talk Employment
- Staffing employment for the week of May 9–15th was relatively unchanged at 95.94 — remaining above 95 for the fourth consecutive week.
- The Wall Street Journal reported the temporary employment sector lost 27,400 jobs since December, reversing a trend from the preceding five years when the category outpaced overall employment.
- The New York Times reported economists have become increasingly worried that a slide in job turnover and relocation rates is undermining the economy’s dynamism, damping productivity and wages while making it more difficult for sidelined workers to find their way back into the labor force.
Give Me the Numbers
What Else Did I Miss?
- Slowing revenue growth and negative shareholder returns resulted nearly flat compensation for CEOs in 2015. CEOs received the lowest pay increase in five years.
- Gross domestic product will expand 1.5% in 2016, according to the May 2016 issue of “The Forecast of the Nation,” released on May 26th by the Economic Forecasting Center at Georgia State University’s J. Mack Robinson College of Business. It will then expand to 2.5% in 2017 and 2.4% in 2018, according to the forecast. The report also expects weaker job growth in 2016 than last year. Jobs will grow by a monthly rate of 180,000 in 2016, 193,000 in 2017, and soften to 169,000 in 2018.
- Sharing economy platform providers, such as Uber, Airbnb and TaskRabbit, will see revenue triple to $20.4 billion by 2020 from $6.4 billion in 2015, according to Juniper Research’s report, “Sharing Economy: Opportunities, Impacts, and Disruptors 2016-2020.”