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American Society of Employers’ (ASE’s) Quarterly Economic & Employment Survey results for second quarter 2017 shows declining optimism among Michigan employers

The American Society of Employers (ASE), one of the nation’s oldest and largest employer associations, has released its 2017 Quarterly Economic & Employment Survey – Second Quarter results.

Highlights of ASE’s 2017 Quarterly Economic & Employment Survey – Second Quarter:

• Michigan employers have grown less optimistic about the future business outlook compared to data collected earlier this year:
o According to this most recent survey, the percentage of employers who anticipate improvements to future business conditions is at its second lowest point since 2009 at 26%.
o The percentage of employers who report that their future business outlook has worsened compared to the previous six months is at its highest point since 2009 at 17%.
• Despite the less optimistic business outlook, the six month employment outlook remains largely unchanged from data collected in the previous quarter. 86% of organizations expect hiring levels to stay the same or increase compared to the past six months. Nearly a quarter of employers anticipated increased hiring compared to the previous six months.
• Personal reasons and advancement and promotion opportunities continue to be the two highest cited reasons for voluntary separations at 48% and 44% respectively.
• Exempt turnover was at an all-time high in May at 2.83%. This typically peaks in the 2nd or 3rd quarter.

The survey results were announced by ASE President and CEO, Mary E. Corrado. “The data shows that employers may be experiencing some economic headwinds curbing the expectation of future growth. This is the result of rapidly changing and uncertain political and policy changes. However, the employment indicators suggest that most Michigan businesses are maintaining, or increasing, hiring levels in order to meet demands,” she stated.

Background information on the ASE 2017 Quarterly Economic & Employment Survey – Second Quarter

• 121 organizations from across Michigan participated.
• Organizations with one to 500 Michigan employees made up more than 85% of the survey sample, while organizations with 501 to 1,000 Michigan employees represented 3.3% of the sample. The remaining 11.6% of the sample comes from organizations with more than 1,000 Michigan employees.
• A variety of industries are represented, with manufacturing organizations representing just over 62% of the survey sample.

To obtain a copy of ASE’s 2017 Quarterly Economic & Employment Survey – Second Quarter, contact ASE’s Compensation and Benefits Surveys department at surveys@aseonline.org or 248.223.8051. This survey is available free of charge to ASE members and is $525 for non-members.


About the American Society of Employers (ASE) – a Centennial Organization
The American Society of Employers (ASE) is a not-for-profit trade association providing people-management information and services to Michigan employers. Since 1902, member organizations have relied on ASE to be their single, cost-effective source for information and support, helping to grow their bottom line by enhancing the effectiveness of their people. Learn more about ASE at www.aseonline.org.

 

Media Contact: Heather Nezich, Communications Manager, ASE, 248.223.8040, hnezich@aseonline.org


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This article was syndicated from: Detroit Regional Chamber - Click here to read the original article