Afternoon Coffee: Hiring slows down, unemployment ticks up; Services PMI registers 11th straight month of growth; PRO recap: IntegrityNext, mistakes in integration, graphiteConnect

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In its April jobs report, the US Labor Department said American employers added just 266,000 nonfarm payroll jobs last month and the unemployment rate rose to 6.1% from 6% in March, according to the New York Times.

As Covid cases decline and more states ease restrictions, businesses have added jobs for four consecutive months. Economists had expected a gain of about 1 million for April. The number of new jobs added was lower than the March number of 770,000, showing that some businesses are struggling to find enough workers as the economy recovers.

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Most economists indicate job growth will strengthen as even more vaccinations are administered, the NYT reported. But the jobs report also indicates that economic recovery has been so fast that many businesses have been unable to fill all their job openings. Some workers have entered new occupations. And even more, especially women, have left the workforce to care for children.

“It turns out it’s easier to put an economy into a coma than wake it up,” Diane Swonk, chief economist for the accounting firm Grant Thornton, told the NYT. “It’s understandable, it’s going to take some time, you’re not just going to snap your fingers and get everyone back to work.”

Services PMI registers 11th consecutive month of growth

Economic activity in the services sector continued to grow in April, according to the latest Services ISM Report on Business numbers released this week.

The services PMI — formerly known as the Non-Manufacturing NMI — registered 62.7% last month, according to the report. The April number was 1 percentage point lower than March’s all-time high of 63.7%. April’s reading still represents growth in the services sector because any number above 50 counts as growth.

"According to the services PMI, 17 services industries reported growth,” Anthony Nieves, the Chair of the ISM Services Business Survey Committee, said in a press release. “The composite index indicated growth for the 11th consecutive month after a two-month contraction in April and May 2020. There was slowing growth in the services sector in April; however, the rate of expansion is still strong. Respondents' comments indicate that pent-up demand is continuing. Production-capacity constraints, material shortages, weather and challenges in logistics and human resources continue to affect deliveries, which has resulted in a reduction of inventories.”

Spend Matters' analysts look at IntegrityNext, 'no-nos' in integration and graphiteConnect

This week, Spend Matters PRO analysts Michael Lamoureux and Nick Heinzmann provided a vendor analysis of IntegrityNext, a supplier risk solution provider. Also, Lamoureux shared the three biggest “no-nos” when it comes to post-merger technology integration. Finally, Spend Matters shared what makes graphiteConnect great, according to customer feedback in our SolutionMap rankings.

Our PRO subscribers can read the full articles, but all readers can see the lengthy intros that frame the issues being discussed. This week:

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