The government services ecosystem is always on a mission. Whether executing on existing contracts or anticipating solutions for the challenges of the future, industry executives are continually refining strategies and aligning capabilities to meet the needs of citizens at home or those deployed ... READ MORE >
labor market
Initial jobless claims spike to highest level since December
New claims for jobless benefits last week came in hotter than expected at 211,000, significantly higher than the 190,000 of the previous week, the Department of Labor reported on Thursday. The increase was in line with expectations following a large number of high-profile layoff announcements ... READ MORE >
Consumer confidence drops as outlook darkens
Consumer confidence fell for the second month in a row as inflation and recession fears dampened the economic outlook. The Conference Board's confidence index dipped to 100.2 in November from 102.2 in October, significantly below the pre-pandemic level of 130. Rising prices remained consumers' top ... READ MORE >
RSM US Supply Chain Index returns to pre-pandemic level
Amid the many challenges in today’s economy, there is a bright spot: Supply chains, after a period of severe disruption, are back to normal. Our RSM US Supply Chain Index pointed to supply efficiency for the fourth month in a row, reaching 0.49 standard deviations above neutral in October. That ... READ MORE >
Housing starts and initial jobless claims give Fed mixed signals
Builders continued to pull back on the supply of new houses in October amid sharp declines in demand as mortgage rates steepened, the Census Bureau reported on Thursday. The decline came as the labor market continued to show resilience, with initial jobless claims falling unexpectedly by 4,000 to ... READ MORE >
Law firms are feeling pressure despite steady growth in demand and rates
Law firms are holding on tight to the roller coaster that is 2022. In November 2021, RSM explained that law firms were not guaranteed another profitable year despite strong demand and rate increases. Fast forward to May, when the Thomson Reuters Law Firm Financial Index (LFFI) for the first quarter of ... READ MORE >
Chart of the day: Job openings surpass 11 million in back-to-back months
The scramble by employers to find workers continued amid a historically tight labor market in January, as employers reported 11.3 million job openings for the month, according to government data released on Wednesday. That would have been the highest on record, except that December's figure was revised ... READ MORE >
Government services contractors continue to contend with labor issues, pandemic fallout
While government services contractors battle a tight labor market and ongoing supply chain disruptions, they emerged from the third quarter of 2021 excited for advances in digital warfare and the future of defense. Top executives in the government services space highlighted opportunities and strategic ... READ MORE >
Consumer products holiday season countdown: Help wanted
All industries are grappling with labor shortages and the retail sector is no different. Most retailers have already started ramping up for the holiday shopping season as consumers begin their holiday spending earlier and earlier each year. For instance, at the end of September, according to Bloomberg, ... READ MORE >
Labor market update: Signs of normalization as long-term challenges persist
The U.S. labor market is showing signs of optimism that might best be described as hedging its bets—confident that the vaccination program will eventually allow for the reemergence of the normal workplace, but recognizing that it may not take just a snap of the fingers to get there. The surge in job ... READ MORE >