Firms Raise Fees Investment bankers and securities brokers slightly increased their prices during the first quarter of 2024, according to the US Bureau of Labor Statistics (BLS). Investment banking and securities brokerage industry employment decreased slightly during
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Single-Family Home Sales RiseNew single-family home sales rose 10.6% month-over-month and were up 5.9% year-over-year in July 2024, according to the US Department of Commerce. July’s rise in home sales marked the biggest gain in more than
Law Firm Revenues Rise Driven by robust billing rates and rising demand, revenue at US law firms increased 11.4% in the first half of 2024 compared to the same period in 2023, according to Wells Fargo’s Legal
Construction Spending RisesOn a not-seasonally adjusted basis, total US construction spending increased 8.6% in March 2024 compared to the same period in 2023, according to the US Census Bureau. Residential spending rose by 4.3%, while nonresidential spending
Declining Rig Count Sapping Demand For ServicesA declining rig count, consolidation in the energy sector, and weak natural gas prices are sapping demand for oil field services in the nation's oil patch, The Wall Street Journal reports.
Prices Flat Amid Rising Labor CostsThe Producer Price Index for oil and gas well drilling services was relatively flat in March compared to a year ago (down 0.3%) after rising 9.2% in the previous annual comparison, according
Higher Orders, Inventories New product orders for nondefense aircraft and parts were up 2.8% in March 2024 compared to a year ago and were up 106.4% from the previous month, according to the Census Bureau. Product inventories
Law Firm Moderate Industry Sales GrowthLaw firms’ sales are expected to notch moderate growth over the next several years. The industry’s year-over-year sales rose 3.2% in 2022 before rising to 4.5% growth in 2023, according to Inforum
Marketing Budgets Drop Marketing budgets are down in 2024 compared to last year, according to Gartner’s 2024 CMO Spend Survey. On average, marketing budgets have fallen to 7.7% of revenue in 2024 compared to 9.1% in 2023.
Wage Growth Outpaces Pricing Growth Wages in the electrical contracting industry rose moderately year-over-year in Q4, according to the Bureau of Labor Statistics (BLS). Meanwhile, BLS data show that producer prices for nonresidential electrical contractors have been
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