Weekly News Round Up: U.S. Productivity Drops; Job Cuts Increase; and Consumers Accruing More Debt These Days
August 15, 2016
Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.
This week, we highlight how U.S. productivity has dropped, and layoffs across the nation rose for the second straight month. In addition, CFOs are seeking more creativity from their new hires, and consumers are starting to accrue more debt these days.
U.S. Productivity Drops for 3rd Straight Quarter
The latest U.S. productivity numbers showed a third straight quarterly decline, extending a long-term holding pattern that could keep a lid on the growth of the economy as a whole.
U.S. Job Cuts Increase 19 Percent in July to 45,346
Layoffs across the United States rose for a second straight month in July, reflecting in part a surprisingly large increase in energy sector job cuts.
CFOs Seeking More Creativity And Enthusiasm in New Hires
According to a recent study, CFOs are looking for new hires that are more dynamic and creative.
IRS Relaxes Rules for Charitable Remainder Annuity Trusts
The Internal Revenue Service has issued a revenue procedure saying a charitable remainder annuity trust that includes a sample provision in its governing agreement won’t be subject to a test that could disqualify it.
‘Massive’ M&A Activity is Coming to Tech
Technology companies are about to enter a golden era of mergers and acquisitions, according to angel investor Jason Calacanis.
Household Debt Continues Slow Climb
Total U.S. household debt grew once again in the second quarter of 2016 with consumers continuing to increase their balance sheets with automobile and credit card loans, as well as mortgages.
Accounting Today Names 2016 Best Firms to Work For
Once again SC&H Group was named one of the best firms to work for by Accounting Today.