Tepid Job Gains Highlight Hiring Difficulties

NEW YORK, June 4: Fewer jobs were added in May relative to consensus, suggesting that the labor market recovery continues to lag behind that of the broader economy. However, the tepid employment gains highlight labor demand and supply mismatches that are prompting firms to raise wages to attract workers. Nonfarm payrolls increased by 559,000 in May, after an upwardly revised increase of 278,000 in April. The published unemployment rate dropped from 6.1 to 5.8 percent, and the true rate, after adjusting for the misclassification error, decreased from 6.4 percent to 6.1 percent in May. Average hourly earnings increased by a stunning 7.4 percent, annual rate, in the past two months, indicating severe labor shortages. The labor force participation rate decreased from 61.7 to 61.6 percent in May. The number of jobs is still 7.6 million below February 2020 levels, with women representing 55 percent of these employment losses. The leisure and hospitality industry continues to drive overall employment growth with 292,000 jobs gained in May, of which the majority was in food services and drinking places (186,000 jobs). Away from food and beverage places, a total of 267,000 jobs were added in May, after declining in April. Still, the construction and retail sectors remained weak in May, shedding jobs for a second consecutive month. This month's jobs report shows that more jobs are being added to the economy as the economy reopens. However, there are still many job openings that employers are struggling to fill, most notably in leisure and hospitality and other in-person services. This appears to be difficult, as much rehiring needs to happen at the same time instead of being spread across the year as is the case during normal years. Finding qualified workers and filling open positions take time, and rising wages are only partly helping to speed up this process. While the demand for workers is high, supply continues to be constrained due to pandemic-related circumstances such as childcare challenges, elevated unemployment benefits (which has increased bargaining power for some unemployed workers), and the fear of contracting COVID-19. Labor force participation is still well below prepandemic rates and has not yet picked up meaningfully since the summer. This means that labor shortages, especially for in-person services, could remain for the better part of 2021. Since current labor shortages are mostly temporary and a result of the rapid reopening of the economy, towards the end of 2021 we should experience loosening labor markets. However, after a pause in 2022, tight labor markets may return as the unemployment rate will be lower, and a shrinking US working-age population means we will reach tight labor markets sooner than in previous decades.

variednews: variednews: Ricoh creates new metallic toners; cus...

variednews: variednews: Ricoh creates new metallic toners; cus...: variednews: Ricoh creates new metallic toners; customers to be... : EXTON, Pa., June 3: Ricoh USA, Inc., recently announced innovative ne...

variednews: Ricoh creates new metallic toners; customers to be...

variednews: Ricoh creates new metallic toners; customers to be...: EXTON, Pa., June 3: Ricoh USA, Inc., recently announced innovative new gold and silver toners, enabling customers to migrate critical app...

Ricoh creates new metallic toners; customers to benefit from transformative technology, unique value-add

EXTON, Pa., June 3: Ricoh USA, Inc., recently announced innovative new gold and silver toners, enabling customers to migrate critical applications away from offset and onto digital with single pass embellishment. These unique additions enable the production of a wide range of enhanced print applications, and open up new revenue opportunities for customers who seek to differentiate their offerings to meet the evolving and diverse needs of their customers in today's competitive marketplace. "These new toners will be transformative for our customers looking to enhance their print marketing materials and so much more," said Tony Rouse, President and CEO, TEAM Concept. "We love our RICOH Pro C7210X's and we're looking forward to the value add that the silver and gold toners will bring. Each piece of RICOH equipment we invest in helps ensure that every project that comes our way can be completed entirely here on site as a part of our 1 Site Commitment to our customers." Developed for the fifth color station on the RICOH Pro™ C7200X digital color sheetfed press, the toners deliver great visual impact for high value-added print. The additional colors transform a broad range of applications from catalogues, posters, flyers, direct mail, and brochures to business cards, greetings cards, tickets, invitations, certificates, and packaging. The new toners are available on new and existing RICOH Pro C7200X presses, enabling users to expand their capabilities. "The addition of gold and silver toner help customers migrate shorter run offset jobs over to digital, while maintaining quality embellishments and, as with all 5th color toners, further expand their color gamut," said Heather Poulin, Vice President, CIP Marketing & Portfolio Management, Ricoh USA, Inc. "We pride ourselves on listening to our customers and incorporating their voice into future portfolio developments. These new metallic toners are a result of their voices and our innovation—and we're excited to bring this to market." The gold and silver toners will be available in North America in July. For more information on Ricoh, visit www.takealookatricohproduction.com or follow along on Facebook, LinkedIn and Twitter. About Ricoh Ricoh is empowering digital workplaces using innovative technologies and services, thus enabling individuals to work smarter. With cultivated knowledge and organizational capabilities nurtured over its 85-years history, Ricoh is a leading provider of document management solutions, IT services, communications services, commercial and industrial printing, digital cameras, and industrial systems. Headquartered in Tokyo, Ricoh Group has major operations throughout the world and its products and services now reach customers in approximately 200 countries and regions. In the financial year ended March 2021, Ricoh Group had worldwide sales of 1,682 billion yen (approx. 15.1 billion USD). For further information, please visit www.ricoh.com T

variednews: variednews: Nivel Acquires Aftermarket PTV Parts E...

variednews: variednews: Nivel Acquires Aftermarket PTV Parts E...: variednews: Nivel Acquires Aftermarket PTV Parts E-commerce Pl... : JACKSONVILLE, Fla., June 3: Nivel Parts & Mfg Co LLC recently ann...

variednews: Nivel Acquires Aftermarket PTV Parts E-commerce Pl...

variednews: Nivel Acquires Aftermarket PTV Parts E-commerce Pl...: JACKSONVILLE, Fla., June 3: Nivel Parts & Mfg Co LLC recently announced that it has acquired, Performance Plus Carts, a leading golf ...

Nivel Acquires Aftermarket PTV Parts E-commerce Platform Performance Plus Carts

JACKSONVILLE, Fla., June 3: Nivel Parts & Mfg Co LLC recently announced that it has acquired, Performance Plus Carts, a leading golf car parts and accessories e-commerce platform focused on providing customers a seamless digital strategy. The purchase brings together Nivel's strong product portfolio and distribution capabilities with PPCs expertise in the e-commerce space. Nivel recognizes the importance of the ever-growing digital market. Through the acquisition of Performance Plus Carts, Nivel gains insights and best practice to achieve success in today's e-commerce space. Performance Plus Carts will integrate into Nivels e-commerce lineup. Donnie Jouppi, PPC's president and founder, will be joining us as the VP of Digital experience leading Nivel's transformation in the digital arena. "I am very excited to be a part of the Nivel team, by leveraging the strengths of both PPC and Nivel I am confident we will lead the way creating the best digital experience in the industry." About Nivel Founded in 1968, Nivel is a global manufacturer, distributor, and seller of aftermarket parts and accessories for niche vehicles and heavy-duty equipment. It is a trusted business partner to thousands of dealers, distributors, and consumers in the US and international markets. Nivel owns the most valuable brands in the aftermarket niche vehicle parts and accessories categories: MadJax, Red Dot, GTW, Jake's, Reliance, Seizmik, and Highlifter. About Performance Plus Carts Performance Plus Carts, a leading e-commerce platform, offers customers a seamless digital experience when searching online for PTV parts and accessories. Since 2010 PPC have grown in to one of the fastest growing privately held companies in America as featured by INC Magazine. Starting out in a garage, PPC has grown through exceptional customer service, experience, and expertise.