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Randstad Reports Second-Quarter 2014 Results

Randstad News Release (07/31/14)

Randstad reported revenues of €4.27 billion in the second quarter of 2014, up 4% from €4.1 billion in the second quarter of 2013. Net income totaled €94.1 million, up 49% from €63.1 million in the year-ago quarter.

Combined U.S. staffing and in-house businesses grew 6% in the quarter, led by growth in manufacturing and logistics. Overall gross profit grew 10% (compared with 6% in the first quarter), mainly due to growth of 33% in permanent placement fees. The U.S. professional business segment contracted 2%.

“Our markets continued their gradual recovery,” said Jacques van den Broek, chief executive officer of Randstad. “The Inhouse and Sourceright businesses in particular enjoyed good growth.”

On Assignment Reports Results for Second Quarter of 2014

On Assignment Inc. News Release (07/30/14)

On Assignment Inc. reported revenues of $468.6 million for the second quarter of 2014, up 14.9% from $407.9 million in the second quarter of 2013. Net income totaled $20.8 million, up 185% from net income of $7.3 million in the year-ago quarter.

The company reported revenues of $297.9 million for its Apex segment, up 13.6% from $262.3 million in the 2013 second quarter; $126 million for its Oxford segment, up 15.4% from $109.2 million; $33.7 million for its physician staffing segment, up 27.2% from $26.5 million; and $11.1 million for its life sciences Europe segment, up 12.1% from $9.9 million.

“Regarding industry dynamics, during and exiting the second quarter, secular trends continue to permit temporary labor to see greater growth prospects than the full-time labor market,” said Peter T. Dameris, On Assignment’s president and chief executive officer.

Hudson Global Reports 2014 Second-Quarter Results

Hudson Global Inc. News Release (07/31/2014)

Hudson Global Inc. reported revenues of $167.4 million for the second quarter of 2014, down 2.3% (4.4% in constant currency) from $171.4 million in the second quarter of 2013. The company reported a net loss of $4.4 million, compared with a net loss of $5.8 million in the year-ago period.

Hudson Americas reported revenues of $26.3 million for the second quarter of 2014, down 29.5% from $37.3 million in the second quarter of 2013. Americas’ gross margin decreased 24% in the second quarter compared with the same period last year, driven primarily by a reduction of 45.0% in Legal eDiscovery and 19.0% in information technology staffing.

CTPartners Executive Search Inc. Announces Record Results for the 2014 Second Quarter

CTPartners News Release (07/30/14)

CTPartners Executive Search Inc. reported net revenues of $45.1 million for the second quarter of 2014, a record high, up 32% from $34.2 million in the second quarter of 2013. Net income totaled $2.1 million, compared with a net loss of $0.4 million in the year-ago quarter. The company’s North American revenues totaled $27.6 million, up 27% from $21.7 million in the 2013 second quarter.

By segment, revenues totaled $13.1 million for financial services, up 62% from $8.1 million; $7.8 million for professional services, up 35% from $5.8 million; $4.5 million for industrial, up 21% from $3.7 million; $6 million for technology, media, and telecom, up 33% from $4.5 million; $7.8 million for life sciences, up 15% from $6.8 million; and $5.9 million for consumer and retail, up 10% from $5.4 million.

Jobless Claims in Past Week Increase, but in Past Month Drop to Eight-Year Low

Bloomberg (07/31/14) Jeanna Smialek

The number of people applying for unemployment benefits in the week ended July 26 rose by 23,000 to 302,000, according to the U.S. Department of Labor. The 49 economists surveyed by Bloomberg had forecast claims of 300,000. The four-week moving average of new claims dropped by 3,500 to 297,250, the lowest level since April 2006.

LINE: Hiring Pace Pressures Flat New-Hire Salary Structures

Society for Human Resource Management (07/31/14) Theresa Minton-Eversole

The Society for Human Resource Management’s Leading Indicators of National Employment survey of 500 manufacturers and 500 service-sector companies for August shows that 50.2% of manufacturers and 35.8% of service-sector companies plan to add jobs next month. A net 16.3% of manufacturers and 17.6% of service-sector companies reported increases in exempt vacancies this month, down 2.6 points and up 8.8 points, respectively, from July 2013. A net 24.0% of manufacturers and a net 22.0% of service-sector companies reported increases in nonexempt vacancies, up 4.6 points and 5.7 points, respectively.

Recruiting difficulty was reported by a net 25.0% of manufacturers, up nearly five points on a year-to-year basis, and a net 20.0% of service-sector companies, up more than two points. New-hire compensation was increased by a net 9.0% of manufacturers and a net 12.0% of service-sector companies, up nearly three points and four points, respectively.

U.S. Labor Costs Post Largest Increase in Nearly Six Years

Reuters (07/31/14) Lucia Mutikani

The Employment Cost Index climbed 0.7% during the second quarter, the largest increase since the third quarter of 2008, according to the U.S. Department of Labor. The index increased 0.3% in the first quarter of the year. Economists surveyed by Reuters had forecast a 0.5% rise in the second quarter, and they expect the index to rise significantly in the second half of the year. Labor costs increased 2.0% in the 12 months through June, compared with 1.8% in the 12 months through March.

Fed Sees Labor-Market Slack Even After Unemployment Rate Dropped

Bloomberg (07/30/14) Jeff Kearns

There is slack in the labor market even though the economy is improving, according to the U.S. Federal Reserve. “A range of labor-market indicators suggests that there remains significant underutilization of labor resources,” the Federal Open Market Committee said Wednesday in a statement, eliminating language saying that unemployment is “elevated.” Still, the Fed continued to taper its monthly asset purchases. The Fed also said inflation has risen nearer to its goal.

Fed chairman Janet Yellen testified this month that while her view of the economy has turned “more positive,” she is concerned about signs of labor-market slack. “We need to be careful to make sure that the economy is on a solid trajectory before we consider raising interest rates,” she said. “There are mixed signals.”

Free ASAPro Webinar Next Month—Handling Conflict With Clients

Regardless of how hard you strive to serve your clients, there’s bound to be conflict. Learn how to avoid the most common causes for conflict with clients, discover how to address conflicts that do arise, and find out how to strengthen your staffing provider–client relationship during the ASAPro webinar “How to Handle Conflict With Clients.” It takes place Thursday, Aug. 21, 3–4 p.m. Eastern time.

All ASAPro webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.