CTG News Release (02/21/12)

CTG announced its financial results for the 2011 fourth quarter and full year ended Dec. 31, 2011. The information technology staffing company reported revenue of $100.9 million for the quarter, a 16% increase from the same period in 2010, while net income stood at $3.3 million, 24% higher than a year earlier. For the entire year of 2011, CTG reported revenue of $396.2 million, a 20% gain over 2010.

New larger health care solutions projects, higher demand for external information technology resources, and the operating leverage from higher revenue were the primary contributors to CTG’s significant growth in revenue and earnings in the 2011 fourth quarter and full year. In 2011, CTG’s staffing business grew 13% to $248.0 million, or 63% of total revenue.

Washington Post (02/18/12) Ylan Q. Mui

U.S. government data indicate that more than 25% of those who obtained employment since the end of the recession are holding temporary positions, which experts say indicates that businesses and employees no longer expect the relationship to last for life. Carl Camden, chief executive of the staffing firm Kelly Services, says the number of workers who consider themselves “free agents,” who move from project to project and could work for several companies simultaneously, climbed from 19% in 2006 to 44% in 2011.

The American Staffing Association says temporary workers are staying in their posts longer, 13.8 weeks on average. Typically, about half of those workers end up in permanent jobs.

Wall Street Journal (02/21/12) Clare Ansberry

Although employment prospects for people with four-year college degrees are improving, high-school dropouts are falling further behind. Approximately 1.8 million more college graduates have found work since January 2010, but about 128,000 high-school dropouts lost work during the same time, according to the U.S. Bureau of Labor Statistics. Fewer than 40% of people over age 25 without a high-school diploma are employed, and things are likely to get worse for this population as jobs require sharper skills and more education. In 2020, nearly six million high-school dropouts will likely be unable to find work, according to a study by the McKinsey Global Institute. Meanwhile, there will be a shortage of about 1.5 million college-educated workers.