US News

New home sales reach record level in U.S., construction jobs up over the year

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New home sales reach record level in U.S., construction jobs up over the yearSales of new homes in the U.S. registered their highest level in eight years, reported Bloomberg.

Since 2008, sales grew 16.6 percent to reach 619,000 annualized rate. The median selling price for new homes also rose, up 9.7 percent to reach $321,100, a record high.

“The outlook for housing is very strong for the remainder of the year, even with the prospect for modestly higher interest rates and relatively modest pace of economic expansion,” said senior economist at Ameriprise Financial Inc., Russell Price, in an interview with Bloomberg.

The news source related the growth to strong employment gains across the country and lower borrowing costs.

The news comes as the Associated General Contractors of America releases its findings that 42 states and Washington, D.C. added jobs between April 2015 and April 2016, reported Construction Equipment Guide.

California added the most jobs over the year, gaining almost 50,000 new positions. Hawaii added the highest percentage of new jobs between April 2015 and April 2016, creating 18.4 percent more positions. Florida, Massachusetts and Georgia also posted significant construction employment gains.

– See more at: http://www.mrinetwork.com/articles/industry-articles/new-home-sales-reach-record-level-in-us-construction-jobs-up-over-the-year/#sthash.d05V88AM.dpuf

Accounting, Financial Services, Manufacturing, Placement Annoucements

Krissy Whitaker & TRG Accounting and Finance Complete Successful Search

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(Fredericksburg, VA) May 26, 2016 – Krissy Whitaker and the Accounting & Finance Search Division are pleased to announce the successful conclusion of our recent search for a Project Accountant in Northern Virginia.

Our client, a specialty commercial contractor, has been steadily growing their customer base throughout the Mid-Atlantic region for 15 years, doubling their business in the past two years. Their growth can be contributed to their unmatched level of customer service, employee culture and investments in quality service and products.

We were tasked to identify an individual with significant experience working with large scale accounting system integrations. We started a local search to uncover an accountant who had been a major contributor to an ERP implementation and someone who could be available immediately to start working. The duration of the project is undetermined, so it was critical that we introduced the right talent, in the right geography and offer an immediate solution.

With over 12 years of experience recruiting in this market, Krissy Whitaker and her team were able to quickly identify and attract the right individual, who had the experience necessary to be successful for our client.

Our candidate had recently concluded a long term contract with a Fortune 500 company in Richmond, where he supported an ERP implantation team. Once it was determined, he lived within commuting distance to our client, we were able to have him start within 48 hours of the initial request.

He will become an integral player in the growth and prosperity of this team and the overall future success of the organization.

Should you desire additional information about this successful search or about our firm, please contact Krissy Whitaker, Director of the Accounting & Finance Division at 804-285-2071 or email Krissy at krissy@richgroupusa.com .

Financial Services

Spending on financial services advertising jumps in 2016

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Spending on financial services advertising jumps in 2016The financial services industry spent 14.5 percent more on digital advertising this year than in 2015, eMarketer reported.

Some $8.37 billion was put toward digital advertising methods by the industry in 2016, representing 12.2 percent of total ad spending for the entire year, according to the site. Financial services has spent the third-largest amount on advertising of any industry, with retail and automotive securing the top two positions.

Spending on digital advertising by financial services is expected to grow, with a predicted 11.2 percent compound annual growth rate. This rate is in line with the 12 percent CAGR predicted for total digital ad spending in the U.S.

Salesforce noted that one of the biggest challenges facing the financial services industry in terms of digital advertising is its intense regulation, including rules from the Securities and Exchange Commission regarding data security and user privacy and confidentiality. However, financial services companies can securely leverage their data collections to design targeted advertising campaigns that build stronger connections with customers through social media, the source advised.

Food & Beverage, US News

FDA updates nutrition facts label on packaged goods

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FDA updates nutrition facts label on packaged goodsOn May 20, the U.S. Food and Drug Administration announced a major update to the nutrition facts label on packaged foods.

Two years in the making and long-awaited, the refurbished labels will help American consumers make more informed and healthy decisions on the goods they purchase, according to an FDA press release.

“For more than 20 years, Americans have relied on the Nutrition Facts label as a leading source of information regarding calories, fat and other nutrients to help them understand more about the foods they eat in a day,” said FDA Commissioner Robert Califf, M.D. “The updated label makes improvements to this valuable resource so consumers can make more informed food choices – one of the most important steps a person can take to reduce the risk of heart disease and obesity.”

The modernized labels will include an update to serving sizes to better reflect the amount people actually consume, a clear reading of grams and a percent daily value for “added sugars” and listings of potassium and Vitamin D levels. Perhaps most notably, the calorie listing will now be in much larger type than the rest of the label, making it hard to miss.

According to the FDA, serving sizes have to be based on actual consumption, not ideal consumption, by law.

The nutrition facts label, found on more than 800,000 products, has not been updated since it was originally implemented in 1994, reported the Associated Press. First lady Michelle Obama echoed the good news in a speech early Friday morning as part her “Let’s Move!” campaign.

The food industry has been granted two years to comply to the new standards.

– See more at: http://www.mrinetwork.com/articles/industry-articles/fda-updates-nutrition-facts-label-on-packaged-goods/#sthash.rglQFl2i.dpuf

Telecommunications & Networking

IT industry valued at $4 trillion, report finds

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IT industry valued at $4 trillion, report findsThough the world is already well aware of the tremendous growth and impact of the information technology sector, a new report has found just how much this global industry is worth.

The research study conducted by advisory group CompTIA revealed that the IT industry has a value of nearly $4 trillion, according to News Everyday. The data compiled responses from 673 participants and several major organizations including Burning Glass Technologies Labor Insights, the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis and others.

Composed of telecommunications, hardware, software and services, the sector has seen incredible growth in recent years and plays a crucial role in almost every other industry.

Forecast to reach $3.8 trillion by the end this year, the IT market is up from $3.7 trillion from a year previous, according to the report. The U.S. itself makes up more than one-quarter of the market, raking in just over $1 trillion on its own.

Approximately 5.9 million U.S. workers are employed by the IT industry, including network administrators and software developers, as well as those in non-technical positions such as human resources and finance.

Retail & Wholesale

April U.S. retail sales see biggest gain since last year

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April U.S. retail sales see biggest gain since last yearRetail and restaurant sales in April grew at the best pace since last year, a sign that consumer spending will help the economy bounce back from a slow start to 2016.

Following a 0.3 percent drop the month previous, retail sales increased 1.3 percent in April to garner the largest advance since March 2015, reported the Wall Street Journal. The figure was much greater than the 0.8 percent growth predicted by economists surveyed by the source.

Total sales rang in at a seasonally adjusted $453.44 billion, led by three key sectors. The auto, gas and nonstore retailer industries were at the forefront of high sales.

Spending at auto dealers climbed 3.2 percent last month, reported Bloomberg. This helped to reverse the drop in sales in February and remains in line with industry data. Light truck and car sales reached a rate of 17.3 million annualized last month.

“This is all part and parcel of the consumption numbers coming more in line with the income numbers we’ve been seeing,” said Jacob Oubina, senior U.S. economist at RBC Capital Markets LLC in New York. “The breadth of this report was extremely constructive.”