Job Market Tilts Toward U.S. Workers in Virtuous Cycle
The balance of power in the job market is shifting slowly toward employees from employers.
Bob Funk sees it firsthand from his position as chief executive officer of staffing agency Express Employment Professionals.
“We’re short of people in a number of cities,” he said.
So he’s changing the focus of his $2.5 billion, Oklahoma City-based business. Instead of concentrating on finding jobs for those who want them, Express Employment is putting more effort into finding workers for companies that need them.
“We’re back in the recruiting market again,” Funk said.
Part-Time Workers a Full-Time Headache on Yellen Radar: Economy
Aug 18, 2014 10:00 AM ET
Federal Reserve Chair Janet Yellen has a stubborn warning light blinking on her labor market dashboard: A group of Americans larger than Washington state’s population can find only part-time work.
As Yellen heads to this week’s Fed symposium in Jackson Hole, Wyoming, where the focus will be on the labor market, those 7.5 million part-time workers who want full-time jobs are inflating the broad measure of underemployment she watches to gauge job market health. Involuntary part-time workers have gained by 325,000 from February’s five-year low.
With employment and inflation nearing Fed goals, Yellen has consistently cautioned some labor market measures still show enough slack to warrant keeping interest rates low. In the shadow of the Teton Range of the Rocky Mountains, she’ll have a chance to highlight soft spots such as the crowded pool of part-timers as investors try to decipher the timing of the Fed’s first interest-rate increase since 2006.