Workforce Weekly: Week 30
Let’s Talk Employment
- TrueBlue Inc. ranked as the largest U.S. industrial staffing firm in terms of industrial temporary staffing revenue, according to Staffing Industry Analysts’ 2016 list of largest U.S. industrial staffing firms. EmployBridge Holding Company and Express Employment Professionals rank second and third, respectively.
- The U.S. labor market maintained its trend of growth in wages in the second quarter but at a slower pace, according to the ADP Workforce Vitality Report released today. Growth in hours worked and employment drove gains. Wages for full-time job holders rose 3.2% year over year in the second quarter, down from 4.6% in the first quarter. Job switchers’ wage growth also slowed — to 5.1% in the second quarter from 6.0% in the first quarter — though they still maintain higher wage growth than holders.
- Nearly half of U.S. workers, 49.6%, are satisfied with their jobs, according to The Conference Board Job Satisfaction survey. This is up from 48.3% in 2014 and the highest level since 2005.
Give Me the Numbers
What Else Did I Miss?
- According to the U.S. Bureau of Labor Statistics, median weekly earnings of U.S. full-time wage and salary workers rose 2.9% year over year in the second quarter to $824 (not seasonally adjusted).
- Goldman Sachs believes the American oil industry is about to stage a big comeback from the painful downturn and big job losses caused by oversupply, CNN reports. Cheap oil eliminated nearly 170,000 oil and gas jobs since late 2014 as companies scrambled to cut costs and avoid bankruptcy. That means, just to keep up with the expected ramp-up in drilling activity, the oil and gas industry would need to add 80,000 to 100,000 jobs between now and the end of 2018, Goldman predicted.
- Labor market conditions remained stable from mid-May through the end of June, according to the latest Federal Reserve’s Beige Book report. Employment continued to grow modestly since the previous report and wage pressures remained modest to moderate.