As reported by Staffing Industry Analysts:
"U.S. temporary help payrolls rose by 34,900 in October to approximately 2.18 million, according to seasonally adjusted numbers released today by the U.S. Bureau of Labor Statistics. September's gain in temporary help payrolls was revised up to 23,800 from the initially reported 16,900. The temporary help penetration rate rose to 1.67% in October from 1.64% in September. Since its low in September 2009, the temporary help services category has added 451,000 jobs, according to the BLS.
The employment services category added a net 29,400 jobs in October for total employment of approximately 2.84 million. The employment services category includes temporary help services as well as employment placement agencies, executive search services and professional employer organizations."
USA Staffing Services:
Has a client ever asked you for a temporary employee? If you have operated within the recruiting space for more than a year, it is likely.
Compared to just 13 months ago, almost half a million more people are now temporary employees.
This trend will only continue and at an increased pace. Start offering your clients temporary employees now.
For a significant competitive advantage in this growing market -- complete elimination of the funding, administration AND RISK associated with a temporary staffing operation -- check out our Web site today.
www.usastaffingservices.com
Staffing Solutions for Staffing Companies - Analysis, Insight, Opportunity
Showing posts with label payroll. Show all posts
Showing posts with label payroll. Show all posts
Monday, November 8, 2010
Monday, October 11, 2010
29 Months Later
Quick news release from the American Staffing Association.
"During the week of Sept. 20–26, 2010, temporary and contract employment rose 1.36%, pushing the ASA Staffing Index up to 100. The last time the weekly index hit 100 was during the week of May 12, 2008, meaning current employment in the staffing industry has returned to a level comparable to that of approximately 29 months ago—just before employment in the staffing industry contracted in response to the recession, which the National Bureau of Economic Research said began in December 2007.
With the index now at 100, U.S. staffing employment is approximately 25% higher than in the same weekly period last year.
The ASA Staffing Index at 100 serves as a milestone in observing staffing employment trends, much like 10,000 points in the Dow Jones Industrial Average stock index. The ASA Staffing Index was launched at 100 in June 2006. It grew beyond 100 most of the rest of that year and continued to grow in 2007, peaking at 110 several weeks in the fourth quarter of 2007, when the economy peaked, according NBER. With the economy in recession, the ASA Staffing Index hovered around 100 in the first few months of 2008, then began slipping moderately until September when it plunged sharply to 69 at the end of the year. Now having returned to the milestone of 100, the index indicates that staffing employment has returned to levels comparable to the early part of 2008—and reminiscent of the summer of 2006 when the staffing industry was growing."
USA Staffing Services:
The time to enter this market has arrived. Do so wisely. To gain a competetive advantage, visit our Web site today.
http://www.usastaffingservices.com/
"During the week of Sept. 20–26, 2010, temporary and contract employment rose 1.36%, pushing the ASA Staffing Index up to 100. The last time the weekly index hit 100 was during the week of May 12, 2008, meaning current employment in the staffing industry has returned to a level comparable to that of approximately 29 months ago—just before employment in the staffing industry contracted in response to the recession, which the National Bureau of Economic Research said began in December 2007.
With the index now at 100, U.S. staffing employment is approximately 25% higher than in the same weekly period last year.
The ASA Staffing Index at 100 serves as a milestone in observing staffing employment trends, much like 10,000 points in the Dow Jones Industrial Average stock index. The ASA Staffing Index was launched at 100 in June 2006. It grew beyond 100 most of the rest of that year and continued to grow in 2007, peaking at 110 several weeks in the fourth quarter of 2007, when the economy peaked, according NBER. With the economy in recession, the ASA Staffing Index hovered around 100 in the first few months of 2008, then began slipping moderately until September when it plunged sharply to 69 at the end of the year. Now having returned to the milestone of 100, the index indicates that staffing employment has returned to levels comparable to the early part of 2008—and reminiscent of the summer of 2006 when the staffing industry was growing."
USA Staffing Services:
The time to enter this market has arrived. Do so wisely. To gain a competetive advantage, visit our Web site today.
http://www.usastaffingservices.com/
Own a staffing firm? Well done!
This article from Sudeep Reddy of the Wall Street Journal continues to confirm that while unemployment rates remain high, many companies are adding staffing firms as permanent partners to avoid hiring permanent employees.
***
Companies are making do with a mix of more temporary and part-time workers at the expense of adding permanent jobs, a trend that suggests the U.S. labor market could stay stuck in neutral for months to come.
Temporary-help payrolls have risen for 11 of the past 12 months, with the sector adding 16,900 jobs in September, according to Labor Department data released Friday. The number of part-timers, meanwhile, surged 612,000 to 9.5 million, the highest on record—a combination of workers who saw their hours cut back and those who were unable to find a full-time position.
Employers typically hire more temp workers as they gear up for an economic expansion, eventually converting many of those workers to full-time jobs. But that has been slow to happen this time around.
"They want to be cautious," said Charles Sigrist, president and CEO of Stivers Staffing Services Inc., a Chicago-based staffing firm. "Clients aren't ready to make that move to hiring full-time. They really don't know what their bottom line is going to be."
The reliance on temps may reflect a longer-run trend toward companies leaning on temporary or contingent labor to fill more of their labor needs. Motorcycle manufacturer Harley-Davidson Inc., for instance, signed a new union contract last month that creates a tier of "casual workers" with no benefits and no minimum number of hours, allowing the company to call up workers when they're needed.
Employers' reluctance to make permanent hires reflects the continued uncertainty about the strength and durability of the recovery. "We're doing more work with less," said Eric Anderberg, vice president of Dial Machine Inc., a contract machining firm that saw sales drop by almost half last year. "You're apprehensive because of what took place last year and because of the uncertainty. We're busy right now but not as busy as 2008."
The Rockford, Ill., company has picked up half a dozen temps, supplementing its staff of 65, for entry-level work. Mr. Anderberg said he's relying on temps to keep costs down and guard against the risk of having to cut a permanent worker later. "It brings me a little more certainty, because I know some of the costs I'm not going to be paying," he said.
Many employers that instituted wrenching job cuts and cost reductions during the downturn are now leaning on temps and other types of contingent workers to fill gaps without creating new burdens on their payrolls.
"Times are tough," said Cynthia Vivian, director of human resources at the American Library Association, a nonprofit group. "We have held back on doing permanent, regular hires. How do we then support the staff in tough times? We go the temp route until we can make an assessment." The group, which has 285 employees on its payroll, now has about four temps and had more before its fiscal year turned on Sept. 1. The organization is doing "limited" hiring of full-time workers, Ms. Vivian said, "but it is not the way it used to be."
Chief financial officers say about 23% of recent hiring has been directed at contract and part-time employees, up from 17% prior to the recession, a recent Duke University/CFO Magazine survey found. Companies expect temp hiring to continue growing faster than overall hiring in the next year, the survey found.
Small businesses in particular reported a greater reliance on temporary and contract employees. "Smaller companies are a little more financially stressed right now," said Duke finance professor John Graham, who directs the survey. "They're having a harder time swallowing the fixed costs that come with hiring a full-time employee."
***
USA Staffing Services:
Clearly, a great time to be in this industry! To gain a competitive advantage, check out our Web site today!
http://www.usastaffingservices.com/
***
Companies are making do with a mix of more temporary and part-time workers at the expense of adding permanent jobs, a trend that suggests the U.S. labor market could stay stuck in neutral for months to come.
Temporary-help payrolls have risen for 11 of the past 12 months, with the sector adding 16,900 jobs in September, according to Labor Department data released Friday. The number of part-timers, meanwhile, surged 612,000 to 9.5 million, the highest on record—a combination of workers who saw their hours cut back and those who were unable to find a full-time position.
Employers typically hire more temp workers as they gear up for an economic expansion, eventually converting many of those workers to full-time jobs. But that has been slow to happen this time around.
"They want to be cautious," said Charles Sigrist, president and CEO of Stivers Staffing Services Inc., a Chicago-based staffing firm. "Clients aren't ready to make that move to hiring full-time. They really don't know what their bottom line is going to be."
The reliance on temps may reflect a longer-run trend toward companies leaning on temporary or contingent labor to fill more of their labor needs. Motorcycle manufacturer Harley-Davidson Inc., for instance, signed a new union contract last month that creates a tier of "casual workers" with no benefits and no minimum number of hours, allowing the company to call up workers when they're needed.
Employers' reluctance to make permanent hires reflects the continued uncertainty about the strength and durability of the recovery. "We're doing more work with less," said Eric Anderberg, vice president of Dial Machine Inc., a contract machining firm that saw sales drop by almost half last year. "You're apprehensive because of what took place last year and because of the uncertainty. We're busy right now but not as busy as 2008."
The Rockford, Ill., company has picked up half a dozen temps, supplementing its staff of 65, for entry-level work. Mr. Anderberg said he's relying on temps to keep costs down and guard against the risk of having to cut a permanent worker later. "It brings me a little more certainty, because I know some of the costs I'm not going to be paying," he said.
Many employers that instituted wrenching job cuts and cost reductions during the downturn are now leaning on temps and other types of contingent workers to fill gaps without creating new burdens on their payrolls.
"Times are tough," said Cynthia Vivian, director of human resources at the American Library Association, a nonprofit group. "We have held back on doing permanent, regular hires. How do we then support the staff in tough times? We go the temp route until we can make an assessment." The group, which has 285 employees on its payroll, now has about four temps and had more before its fiscal year turned on Sept. 1. The organization is doing "limited" hiring of full-time workers, Ms. Vivian said, "but it is not the way it used to be."
Chief financial officers say about 23% of recent hiring has been directed at contract and part-time employees, up from 17% prior to the recession, a recent Duke University/CFO Magazine survey found. Companies expect temp hiring to continue growing faster than overall hiring in the next year, the survey found.
Small businesses in particular reported a greater reliance on temporary and contract employees. "Smaller companies are a little more financially stressed right now," said Duke finance professor John Graham, who directs the survey. "They're having a harder time swallowing the fixed costs that come with hiring a full-time employee."
***
USA Staffing Services:
Clearly, a great time to be in this industry! To gain a competitive advantage, check out our Web site today!
http://www.usastaffingservices.com/
Another good sign for the industry!
As reported Friday by Staffing Industry Analysts:
"U.S. temporary help payrolls rose by 16,900 in September to approximately 2.1 million, according to seasonally adjusted numbers released today by the U.S. Bureau of Labor Statistics. In addition, August's change in temporary employment was revised up to a gain of 17,700 jobs from the initially reported gain of 16,800.
The temporary help penetration rate rose to 1.63% in September from 1.62% in August. Since its low in September 2009, temporary help has added approximately 404,200 jobs.
The employment services category added 28,200 jobs in September to reach employment of approximately 2.8 million. The employment services category includes temporary help services as well as employment placement agencies, executive search services and professional employer organizations."
USA Staffing Services:
To gain a competitive advantage, check out our Web site today!
http://www.usastaffingservices.com/
"U.S. temporary help payrolls rose by 16,900 in September to approximately 2.1 million, according to seasonally adjusted numbers released today by the U.S. Bureau of Labor Statistics. In addition, August's change in temporary employment was revised up to a gain of 17,700 jobs from the initially reported gain of 16,800.
The temporary help penetration rate rose to 1.63% in September from 1.62% in August. Since its low in September 2009, temporary help has added approximately 404,200 jobs.
The employment services category added 28,200 jobs in September to reach employment of approximately 2.8 million. The employment services category includes temporary help services as well as employment placement agencies, executive search services and professional employer organizations."
USA Staffing Services:
To gain a competitive advantage, check out our Web site today!
http://www.usastaffingservices.com/
Sunday, October 3, 2010
GDP estimate up!
Another quick report from Staffing Industry Analysts:
"The U.S. Department of Commerce raised its growth estimate of real gross domestic product in the second quarter.
Real GDP increased at an annual rate of 1.7% in the second quarter, according to a third estimate released today by the Department of Commerce. An estimate released last month had growth at 1.6%.
U.S. real GDP grew 3.7% in the first quarter after declining at a rate of 2.6% for full year 2009.
Staffing industry growth, with the exception of healthcare staffing, strongly correlates with growth in GDP, according to research from Staffing Industry Analysts. Staffing industry revenue tends to grow faster as GDP improves."
http://www.usastaffingservices.com/
"The U.S. Department of Commerce raised its growth estimate of real gross domestic product in the second quarter.
Real GDP increased at an annual rate of 1.7% in the second quarter, according to a third estimate released today by the Department of Commerce. An estimate released last month had growth at 1.6%.
U.S. real GDP grew 3.7% in the first quarter after declining at a rate of 2.6% for full year 2009.
Staffing industry growth, with the exception of healthcare staffing, strongly correlates with growth in GDP, according to research from Staffing Industry Analysts. Staffing industry revenue tends to grow faster as GDP improves."
http://www.usastaffingservices.com/
Initial unemployment claims drop
Quick report from Staffing Industry Analysts:
"The number of U.S. initial claims for unemployment insurance filed in the week ended Sept. 25 fell by 16,000 from the previous week, according to seasonally adjusted numbers released today by the U.S. Department of Labor.
Initial claims for the week ended Sept. 25 totaled 453,000, down 3.4% from the previous week's number of 469,000 -- which had been revised up by 4,000.
The four-week moving average of claims for the week ended Sept. 25 fell to 458,000, down 6,250, or 1.4%, from the previous week's revised average of 464,250."
http://www.usastaffingservices.com/
"The number of U.S. initial claims for unemployment insurance filed in the week ended Sept. 25 fell by 16,000 from the previous week, according to seasonally adjusted numbers released today by the U.S. Department of Labor.
Initial claims for the week ended Sept. 25 totaled 453,000, down 3.4% from the previous week's number of 469,000 -- which had been revised up by 4,000.
The four-week moving average of claims for the week ended Sept. 25 fell to 458,000, down 6,250, or 1.4%, from the previous week's revised average of 464,250."
http://www.usastaffingservices.com/
Saturday, September 11, 2010
Trend toward temps continues!
More good news ... if you are a part of this growing industry. This time our continued optimism is the result of the Federal Reserve's Beige Book report as covered by Staffing Industry Analysts:
Demand for temporary staffing "remained on an upward trend" from mid-July through the end of August, according to the Federal Reserve Beige Book report released Wednesday. Federal Reserve Districts in Boston, Philadelphia, Richmond VA and Minneapolis noted increases in temporary staffing. However, the Chicago district reported a slight softening in demand for the period.
Wage pressure remained modest, according to the report.
"Dallas reported that wage pressures were 'generally nonexistent,' with the exceptions of some airline and temporary workers," according to the report. "Hiring of permanent employees was held down in part by employers' reliance on temporary and contract workers, as reported by Philadelphia and Atlanta, although Boston noted that conversions from temporary to permanent staff picked up."
Overall, the Beige Book reported growth in economic activity from mid-July through the end of August. However, there were widespread signs of economic deceleration.
USA Staffing Service:
Regardless of possible economic deceleration through the end of the year, in any market, competitive advantages set leaders apart; competitive advantages separate the elite from the average. To secure a clear, competitive advantage for your recruiting operation, check out our Web site today:
http://www.usastaffingservices.com/
Demand for temporary staffing "remained on an upward trend" from mid-July through the end of August, according to the Federal Reserve Beige Book report released Wednesday. Federal Reserve Districts in Boston, Philadelphia, Richmond VA and Minneapolis noted increases in temporary staffing. However, the Chicago district reported a slight softening in demand for the period.
Wage pressure remained modest, according to the report.
"Dallas reported that wage pressures were 'generally nonexistent,' with the exceptions of some airline and temporary workers," according to the report. "Hiring of permanent employees was held down in part by employers' reliance on temporary and contract workers, as reported by Philadelphia and Atlanta, although Boston noted that conversions from temporary to permanent staff picked up."
Overall, the Beige Book reported growth in economic activity from mid-July through the end of August. However, there were widespread signs of economic deceleration.
USA Staffing Service:
Regardless of possible economic deceleration through the end of the year, in any market, competitive advantages set leaders apart; competitive advantages separate the elite from the average. To secure a clear, competitive advantage for your recruiting operation, check out our Web site today:
http://www.usastaffingservices.com/
Tuesday, August 24, 2010
What a difference a year can make!
Another very good sign for the industry from the American Staffing Association as reported by Staffing Industry Analysts:
“The American Staffing Association's staffing index rose to a reading of 95 in August, up four points from July's reading of 91. The reading is up 27% from the August 2009 reading.
The index measures changes in the number of temporary and contract workers, both weekly and monthly. The monthly measure is taken from the week containing the 12th of the month. Its baseline value of 100 was set in June 2006.”
USA Staffing Services:
To gain that crucial, competitive advantage in a growing market, visit our Web site today.
http://www.usastaffingservices.com/
“The American Staffing Association's staffing index rose to a reading of 95 in August, up four points from July's reading of 91. The reading is up 27% from the August 2009 reading.
The index measures changes in the number of temporary and contract workers, both weekly and monthly. The monthly measure is taken from the week containing the 12th of the month. Its baseline value of 100 was set in June 2006.”
USA Staffing Services:
To gain that crucial, competitive advantage in a growing market, visit our Web site today.
http://www.usastaffingservices.com/
2.4 Million Temps Per Day!
And a little more good news from the American Staffing Association as reported by Staffing Industry Analysts:
"Staffing industry employment rose 23.3% on a year-over-year basis in the second quarter of 2010 to an average of 2.4 million temporary and contract workers per day, according to the American Staffing Association's quarterly employment and sales survey. Compared to the first quarter, the number of workers employed is up 18.0%.
‘Even as the pace of economic growth slowed, staffing firms added 360,000 new jobs during the second quarter,’ said ASA president and CEO Richard Wahlquist. ‘This is an encouraging sign that there is still some juice left in this recovery and that businesses across a wide spectrum of sectors continue to experience a slow but sustained uptick in demand for their products and services.’"
USA Staffing Services:
As we have continued to note these past few months, staffing is good business! To gain a crucial competitive advantage is this hot market, check out our Web site today.
http://www.usastaffingservices.com/
"Staffing industry employment rose 23.3% on a year-over-year basis in the second quarter of 2010 to an average of 2.4 million temporary and contract workers per day, according to the American Staffing Association's quarterly employment and sales survey. Compared to the first quarter, the number of workers employed is up 18.0%.
‘Even as the pace of economic growth slowed, staffing firms added 360,000 new jobs during the second quarter,’ said ASA president and CEO Richard Wahlquist. ‘This is an encouraging sign that there is still some juice left in this recovery and that businesses across a wide spectrum of sectors continue to experience a slow but sustained uptick in demand for their products and services.’"
USA Staffing Services:
As we have continued to note these past few months, staffing is good business! To gain a crucial competitive advantage is this hot market, check out our Web site today.
http://www.usastaffingservices.com/
Staffing buyers/providers ... going steady?
Once again, Jon Osborne at SAI gives his entertaining, but quite relevant, perspective on the relationship between staffing firms and staffing buyers:
"I happened to be going through some of our survey data from 2009, and noticed an interesting coincidence.
When buyers were asked what advice they would give to staffing firms, their number one response was that staffing firms should be "more of a real business partner." Strangely enough, in a separate survey, when we asked staffing firms what advice they would give to buyers, their number one response was exactly the same--buyers should be "more of a real business partner."
So if everyone wants the other side to be a real business partner, why do both sides feel the other doesn't want it and isn't doing it? Reading the details of their comments reveals the answer--the two sides are worlds apart in terms of expectations and priorities.
Staffing buyers want a lot--quality, speed, cost control, shared knowledge, creativity and ever-improving performance. Staffing firms, presumably doing at least some of that, feel their profits are excessively squeezed and that buyers should be helping them stay in business instead of treating them as a commodity.
Is there a common ground between all those needs? Yes, and the reality is that staffing firms and buyers are already finding it on a regular basis to the tune of nearly $100 billion in U.S. sales annually.
But that common ground doesn't lend itself to terribly serious partnership; it's less like marriage and more like high school, because ultimately everyone is still open to a better deal. That instability can be tough at times, but in business it makes for progress.
A more marriage-like partnership might seem attractive, but my recommendation for the contingent world is--be happy with just going steady."
USA Staffing Services:
Not including Osborne's sharp wit, there is an incredibly important note to consider for a moment. He asks:
"Is there a common ground between all those needs? Yes, and the reality is that staffing firms and buyers are already finding it on a regular basis to the tune of nearly $100 billion in U.S. sales annually."
Probably a good time to add a crucial, competitive advantage in such a hot market. Check out our Web site today.
http://www.usastaffingservices.com/
"I happened to be going through some of our survey data from 2009, and noticed an interesting coincidence.
When buyers were asked what advice they would give to staffing firms, their number one response was that staffing firms should be "more of a real business partner." Strangely enough, in a separate survey, when we asked staffing firms what advice they would give to buyers, their number one response was exactly the same--buyers should be "more of a real business partner."
So if everyone wants the other side to be a real business partner, why do both sides feel the other doesn't want it and isn't doing it? Reading the details of their comments reveals the answer--the two sides are worlds apart in terms of expectations and priorities.
Staffing buyers want a lot--quality, speed, cost control, shared knowledge, creativity and ever-improving performance. Staffing firms, presumably doing at least some of that, feel their profits are excessively squeezed and that buyers should be helping them stay in business instead of treating them as a commodity.
Is there a common ground between all those needs? Yes, and the reality is that staffing firms and buyers are already finding it on a regular basis to the tune of nearly $100 billion in U.S. sales annually.
But that common ground doesn't lend itself to terribly serious partnership; it's less like marriage and more like high school, because ultimately everyone is still open to a better deal. That instability can be tough at times, but in business it makes for progress.
A more marriage-like partnership might seem attractive, but my recommendation for the contingent world is--be happy with just going steady."
USA Staffing Services:
Not including Osborne's sharp wit, there is an incredibly important note to consider for a moment. He asks:
"Is there a common ground between all those needs? Yes, and the reality is that staffing firms and buyers are already finding it on a regular basis to the tune of nearly $100 billion in U.S. sales annually."
Probably a good time to add a crucial, competitive advantage in such a hot market. Check out our Web site today.
http://www.usastaffingservices.com/
Wednesday, July 21, 2010
Manpower Second Quarter Numbers Up
Manpower says 2Q profit nearly doubles, no slowing
Manpower reports 2Q profit nearly doubles on acquisition, global hiring trends, no slowdown
MILWAUKEE (AP) -- Staffing company Manpower Inc. said Wednesday that its second-quarter net income nearly doubled, helped by the effects of an acquisition and improvement in global employment markets.
Manpower, which does much of its business outside of the United States, said countries such as Germany, Sweden, the United Kingdom, Mexico and France and Italy all had extremely strong revenue growth throughout the quarter. It also saw revenue growth in the United States despite a difficult job market.
"We have not felt any slowdown as we enter the third quarter," said Jeffrey Joerres, Manpower's chairman and CEO.
The company said the second quarter also included the impact of its acquisition of Comsys, a company that provides temporary employees for information technology jobs. That deal closed April 5.
The company reported net income of $32.7 million, or 40 cents per share, up from $16.3 million, or 21 cents per share, a year ago. Revenue rose 21 percent to $4.59 billion from $3.79 billion, including a 5 percent bump from Comsys.
The results beat the average estimate of analysts polled by Thomson Reuters, who expected earnings of 22 cents per share on revenue of $4.41 billion.
For the third quarter, Manpower expects earnings to range between 41 cents to 51 cents per share, an estimate that includes an unfavorable currency impact of 4 cents per share.
Analyst foresee 41 cents per share of earnings, on average.
Manpower shares traded up $1.54, or 3.3 percent, to $47.98 in morning trading.
USA Staffing Services:
But does Manpower supply better candidates than your recruiting firm? To successfully compete for your share of this growing market, check out our Web site today.
http://www.usastaffingservices.com/
Manpower reports 2Q profit nearly doubles on acquisition, global hiring trends, no slowdown
MILWAUKEE (AP) -- Staffing company Manpower Inc. said Wednesday that its second-quarter net income nearly doubled, helped by the effects of an acquisition and improvement in global employment markets.
Manpower, which does much of its business outside of the United States, said countries such as Germany, Sweden, the United Kingdom, Mexico and France and Italy all had extremely strong revenue growth throughout the quarter. It also saw revenue growth in the United States despite a difficult job market.
"We have not felt any slowdown as we enter the third quarter," said Jeffrey Joerres, Manpower's chairman and CEO.
The company said the second quarter also included the impact of its acquisition of Comsys, a company that provides temporary employees for information technology jobs. That deal closed April 5.
The company reported net income of $32.7 million, or 40 cents per share, up from $16.3 million, or 21 cents per share, a year ago. Revenue rose 21 percent to $4.59 billion from $3.79 billion, including a 5 percent bump from Comsys.
The results beat the average estimate of analysts polled by Thomson Reuters, who expected earnings of 22 cents per share on revenue of $4.41 billion.
For the third quarter, Manpower expects earnings to range between 41 cents to 51 cents per share, an estimate that includes an unfavorable currency impact of 4 cents per share.
Analyst foresee 41 cents per share of earnings, on average.
Manpower shares traded up $1.54, or 3.3 percent, to $47.98 in morning trading.
USA Staffing Services:
But does Manpower supply better candidates than your recruiting firm? To successfully compete for your share of this growing market, check out our Web site today.
http://www.usastaffingservices.com/
Friday, July 2, 2010
Analysis - June Employment Report
Dirk van Dijk wrote a great analysis of the June employment report for Yahoo! FINANCE.
A couple interesting quotes:
"With total employment now 7.311 million below where it was when the recession started, even if we were to add 250,000 jobs per month (which is better than was averaged in the Clinton second term, one of the best periods for job creation in recent history) it would still take us more than 29 months to get back to the December 2007 level of jobs, or not until November 2012. It is far more likely that we will not see a new employment peak until 2014."
"Manufacturing employment had been in a secular decline for about the last 30 year or so. We have now seen manufacturing employment expand for six straight months. The last time the economy could make that claim was in March of 1998."
"Of particular interest is temporary employees. They are an important leading indicator of where the job market is going. After a recession when demand starts to pick up, employers are not really sure if it is going to last. Thus they are reluctant to bring on new full-time employees. The first thing they will do is work the remaining employees harder, particularly if they had previously cut back on the hours. The next step is to call up ... [a staffing firm] and bring on a temp. Only after the employer is more confident that the upturn is for real will he bring on a full-time permanent employee. In May, temporary workers rose by 20,500, on top of gains of 31,100 in May and 23,300 in April."
USA Staffing Services:
To gain a clear competitive advantage and start offering your clients a valuable temporary staffing service with no administration and NO RISK, check out our Website today:
http://www.usastaffingservices.com/
A couple interesting quotes:
"With total employment now 7.311 million below where it was when the recession started, even if we were to add 250,000 jobs per month (which is better than was averaged in the Clinton second term, one of the best periods for job creation in recent history) it would still take us more than 29 months to get back to the December 2007 level of jobs, or not until November 2012. It is far more likely that we will not see a new employment peak until 2014."
"Manufacturing employment had been in a secular decline for about the last 30 year or so. We have now seen manufacturing employment expand for six straight months. The last time the economy could make that claim was in March of 1998."
"Of particular interest is temporary employees. They are an important leading indicator of where the job market is going. After a recession when demand starts to pick up, employers are not really sure if it is going to last. Thus they are reluctant to bring on new full-time employees. The first thing they will do is work the remaining employees harder, particularly if they had previously cut back on the hours. The next step is to call up ... [a staffing firm] and bring on a temp. Only after the employer is more confident that the upturn is for real will he bring on a full-time permanent employee. In May, temporary workers rose by 20,500, on top of gains of 31,100 in May and 23,300 in April."
USA Staffing Services:
To gain a clear competitive advantage and start offering your clients a valuable temporary staffing service with no administration and NO RISK, check out our Website today:
http://www.usastaffingservices.com/
Listening to Giants: Valuable Indicators?
Seeking Alpha contributer Mariusz Skonieczny put together a very illuminating (well, at least, interesting) article this week. Illuminating, if his conclusions are true; interesting, if like listening to giants.
Working under the assumtion that if you analyze the quarterly investment reports of a the two largest conglamerates within the staffing industry, because they are hiring ALOT of temporary employees, you are going to get a good indication of the direction of the overall economy. So Skonieczny gathered the statements from both companies for the last couple years.
If these reports do indicate the direction of the overall economy, then we are going in the right direction -things are improving. Of course, only time will tell.
Still, always interesting to get a little insight from these two giants. And I do mean GIANTS; collectively these two companies have $20 billion annual revenue!
Really, you have to ask yourself: does your recruiting firm offer a better service then these two GIANTS? In other words, are they better recruiters than you are? Doubtful.
To gain a competitive advantage and start offering your clients a valuable temporary staffing service (with no administration and NO RISK), check out our Web site today:
http://www.usastaffingservices.com/
Working under the assumtion that if you analyze the quarterly investment reports of a the two largest conglamerates within the staffing industry, because they are hiring ALOT of temporary employees, you are going to get a good indication of the direction of the overall economy. So Skonieczny gathered the statements from both companies for the last couple years.
If these reports do indicate the direction of the overall economy, then we are going in the right direction -things are improving. Of course, only time will tell.
Still, always interesting to get a little insight from these two giants. And I do mean GIANTS; collectively these two companies have $20 billion annual revenue!
Really, you have to ask yourself: does your recruiting firm offer a better service then these two GIANTS? In other words, are they better recruiters than you are? Doubtful.
To gain a competitive advantage and start offering your clients a valuable temporary staffing service (with no administration and NO RISK), check out our Web site today:
http://www.usastaffingservices.com/
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