As the cold and snow eased up across the US in March and April, the market surged as a result of a pent up demand for products and services. Unemployment sank to 6.3 percent in April from 6.7 percent in March, which is the lowest it has been since September 2008. US Manufacturers alone reported adding 12,000 new positions. Consumers bought more cars and spent more money in March and April, and as consumers keep ramping up their spending activities, businesses are ordering more goods and manufacturers are expanding production. The strengthening numbers show that harsh snowstorms and frigid cold in January and February were largely to blame for the economy’s lack of growth at the start of the year, and economists project the current positive trends to extend through the end of 2014. All of this is good for the economy as a whole, but is really making it harder for companies to find and attract talent while holding on to the ones you want to keep.
Bruce Peacock
Vice President of Business Development
The Richmond Group USA