Insights from ITR: Promising February Job Growth=Time to Hire

ITR Economics is an established, highly respected economic research and consulting firm. As one of our partners in excellence and a fellow Vistage member, we often turn to them for insight and analysis into current economic trends and market conditions, which greatly affect the hiring and recruiting process for our clients.

ITR Predicts GDP Growth through 2016

We were recently interested in a blog post published by ITR that reported on the reassuring number released by the Bureau of Labor Statistics on February job growth. While 182 thousand jobs were reported in January, private sector employment increased by 230 thousand jobs in February. Many people had been discouraged by the economic data that came out in January, so ITR interpreted this February number as a sign of hope. They see January’s disappointing data as the anomaly and confidently state their expectation that the U.S. GDP will keep growing in 2016.

So what do we think about this economic analysis and how it should affect your hiring practices? While the ITR and other similar reports are hopeful, we have found that people and companies are still feeling unsure about the economy, especially with the uncertainties inherent in the upcoming election. This is why we think now is a great time to strike while the iron is hot and find those fantastic people who are a good fit for your company and culture. Instead of taking a “wait and see” approach, you should prioritize filling those much-needed positions with the best possible talent (still not sure who is the best fit for your company? Learn more about our innovative approach to finding, keeping, and growing the best.) Since numbers are looking good through 2016, don’t let future uncertainty keep you from meeting current growth goals.

Upcoming ITR Webinar

If you’re interested in learning more about ITR’s economic predictions and discussion of higher-level growth numbers and more macroeconomic views of North America, we highly recommend participating in their April 14, 2016 webinar, “Best State Economies in the Union” with Brian Beaulieu.

Webinar Details:

Best State Economies in the Union

Date: April 14, 2016

Time: 2:00pm – 3:00pm EST

Cost: $125

Description

Presenter: Brian Beaulieu

Population growth, education, income, economic diversity and more go into the mix when thinking about the best states in the union to do business. We will look at our top 10 list of states for the future based on economics. With North America looking to be arguably the best economic destination for the next 7 – 10 years, we thought it worthwhile to whittle the list down to the state level so companies can concentrate their resources.

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