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AP: 5 Reasons Why US Employers are Showing Confidence in Economy
Employers show confidence U.S. economy is turning around in May.
In May, the U.S. economy added 280,000 jobs, according to the Labor Department. This is a good sign for an economy that has showed weakness in the first half of the year. This vote of confidence is convincing employers that customer demand will accelerate as well.
"It's kind of a strange situation because consumers are getting jobs, and their incomes are improving," John Silvia, chief economist at Wells Fargo, told the AP.
One reason for the upturn in jobs is that companies are no longer feeling the pain. Major U.S. corporations are burdened by the strong dollar when it comes to overseas profits. However, smaller businesses with a U.S. workforce are more immune to currency swings.
“Sylvan Learning plans to open up to 20 centers this year, creating 30 to 40 full-time and potentially 400 part-time jobs. Greater demand for their programs in science, math and robotics indicates that more parents are investing in their children's futures,” John McAuliffe, Sylvan Learning chief financial officer, told the AP.
It’s an investment that will pay off. Employers have also showed interest in new college graduates. According to the AP, 780,000 graduates began looking for work, and 760,000 found jobs. College graduates tend to earn more throughout their lifetime and have less instances of unemployment.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
