On the Economic Scene
WORKSHOP: NEW TAX LAW IMPACT ON SMALL BUSINESSES – This important SCORE workshop offers a unique opportunity to understand the new tax laws. The 2018 tax return season is now here. Do you understand what the new tax laws are? With so many changes introduced in the new tax reform, now is the time to learn how they will affect your business. Seasoned tax experts will walk you through the key changes to help you keep more of your hard-earned money. The workshop will be held at the Daytona State College Campus in Daytona Beach from 6 to 8 p.m. Jan. 31, 2019, and led by Carrie Boynton, CPA (Tax Manager), and Savana Spooner, CPA (Senior Accountant), with James Moore & Company. To register, go to https://tinyurl.com/y976mkp8.
BEST COMPANIES TO WORK FOR IN FLORIDA – The Best Companies To Work For In Florida is a survey competition to determine which participants are the best employers. The process is managed by Best Companies Group and winners are published in Florida Trend magazine. Best Companies Group is an independent research firm specializing in identifying and recognizing great places to work. To participate, a company must: be a for-profit (private or public) or not-for-profit business or government entity, have a minimum of 15 FT or PT employees working in Florida, have a facility in the state of Florida, and be in business a minimum of one year. The registration deadline for this year is Friday, Jan. 25. To learn more, call Best Companies Group at 877-455-2159 or visit www.bestcompaniesFL.com.
ENGINEERING ACADEMY – The Engineering Academy at DeLand High School prepares students for careers in engineering, manufacturing, and technical design. The Academy uses Amatrol industry-standard equipment and integrated curriculum to connect various areas and levels of manufacturing and culminates with a local industry internship. The numerous Volusia County Schools career academy programs provide industry sector focused preparation and student engagement. As tomorrow’s workforce, academy students gain early career knowledge, skill development and workplace exposure. Business owners are encouraged to consider the advantages of participating with career academies. Contact the Academy Director, Peter Policke, at email@example.com.
MARKET REPORT – The Institute for Supply Management's non-manufacturing index fell from 60.7 in November to 57.6 in December; any number above 50 is still in expansion territory, while a reading below 50 is considered contractionary. The NFIB Small Business Optimism Index also contracted, but only slightly, from 104.8 to 104.4. The Job Openings and Labor Turnover Survey revealed 6.888 million job openings in November, down from 7.131 million in the prior month. Both initial and continuing unemployment claims decreased from the prior week, signaling continued strength in the labor market. In addition, the Consumer Price Index was in line with expectations, decreasing by 0.1% in December.
LABOR STATISTICS SURVEY DOCUMENTS NON-TRADITIONAL EMPLOYMENT – In June of 2018, the Bureau of Labor Statistics (BLS) released the Contingent and Alternative Employment Arrangements survey based on 2017 data. The BLS survey remains significant because it represents the first large-scale survey of its kind since 2005, and it provides information on the makeup of the economy’s non-traditional employment sector. In May 2017, 3.8 percent of workers--5.9 million persons--held contingent jobs. These workers are persons who do not expect their jobs to last or who report them as temporary. The survey also identified a significant number of other workers with various alternative arrangements. There were 10.6 million independent contractors, 2.6 million on-call workers, 1.4 million temporary help agency workers, and 933,000 workers provided by contract firms. To access the full BLS economic news release and data tables, go to https://www.bls.gov/news.release/conemp.nr0.htm.
ENTERPRISE FLORIDA’S ONLINE INTERNATIONAL TRADE DATA – Access to accurate international trade data is an important tool for any business seriously contemplating expanding into international markets. One good place to start is Enterprise Florida’s online Data Center page on International Data. As the world’s principal commercial gateway to Latin American & Caribbean markets, Florida is a leading global trade hub. Goods worth $147.7 billion flowed through Florida’s airports and seaports in 2017. The state is also a major producer, and exports of Florida-origin products reached $55 billion in 2017. Detailed trade data is available, including Florida’s top trading partners, top export destinations and commodities, state-origin exports, and more. The Florida International Business Highlights report is also available for download at https://tinyurl.com/yb53qytm.
GROWTH IN U.S. APPRENTICESHIPS – The shortage of trained talent in the country’s workforce has led to a rise in apprenticeships. According to the U.S. Department of Labor, the number of apprentices has grown over 42 percent from Fiscal Year (FY) 2013 to FY 2017. Nationwide, there are over 533,000 apprentices currently obtaining the skills they need to succeed while earning wages. More than 190,000 individuals entered the apprenticeship system in FY 2017 and 64,000 participants graduated. If you are a business owner interested in further information, visit https://tinyurl.com/y9eqm46g. If you are searching for an apprenticeship opportunity, go to https://tinyurl.com/y9xtplkp where you can filter your search by location, keyword and distance.