Adecco Achieves Solid Profitability in Q1 2012
Adecco Group News Release (05/08/12)
Adecco today reported a 12% increase in net profit on a 2% increase in sales and said it would continue to focus on profitability in the coming months. The company’s net profit for the quarter stood at 112 million euros compared with 100 million euros in 2011, while first-quarter revenue finished at 5.04 billion euros compared with 4.92 billion euros in 2011.
In North America, Adecco’s revenues increased by 1% in constant currency to 964 million euros ($1.253 billion U.S.). General staffing revenues grew by 3% in constant currency. Professional staffing revenues were flat year-on-year, held back by information technology staffing, but with the finance and legal, and medical and science segments growing by double digits. Permanent placement revenues were up 14% in constant currency.
CDI Corp. Reports 2012 First Quarter Results
CDI Corp. News Release (05/08/12)
CDI Corp. today reported revenue of $280.6 million for the first quarter, up 9.3% compared with the prior-year first quarter, with all three segments reporting gains. First-quarter net income was $3.8 million compared with $0.7 million in the prior-year first quarter. The company reported gross profit margin of 19.8% compared with 21.2% in the same period last year.
CDI’s professional services staffing segment reported a 12.2% increase in first-quarter revenue versus the prior-year first quarter. Operating profit more than doubled to $5.8 million versus the prior-year first quarter driven by the increased revenue and lower expenses.
Conference Board Employment Trends Index Increases in April
Conference Board News Release (05/07/12)
The Conference Board Employment Trends Index increased 0.8% in April to 108.04, up from the revised figure of 107.18 in March. The April figure is 7.1% higher than a year ago. April’s increase in the ETI was driven by positive contributions from five of the eight components, including employees hired by the temporary help industry.
“The growth in the Employment Trends Index in recent months is signaling moderate improvements in employment,” says Gad Levanon, director of macroeconomic research at the Conference Board. “We did not expect employment growth in December to February, averaging almost 250,000 a month, to continue. However, the disappointing job gain in April (115,000) is probably below the current trend and should pick up to about 150,000-175,000 jobs a month through the summer.”
Small-Business Optimism Gains Two Points in April
NFIB News Release (05/08/12)
After declining in March, the National Federation of Independent Business’ Index of Small Business Optimism gained 2 points in April, settling at 94.5. However, April’s gain only returns the index to its February 2011 level, indicating that in a year, the net gain has been zero. While March did not post strong job creation numbers, labor market indicators did improve.
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W-4 Forms: Payroll Compliance Tips
Business Management Daily (05/03/12)
Forms W-4 remain in effect until employees update them at any time of their choosing, but the U.S. Internal Revenue Service requires updates within 10 days if an employee had claimed married status and has divorced, or the employee’s number of withholding allowances decreases. If withholding allowances will be lowered in the coming year based on events in the current year, the Form W-4 must be updated by Dec. 1, and those claiming income tax withholding exemptions must update their forms every year by Feb. 15.
Forms W-4 must be considered invalid if oral or written communications deem information in them to be false, alterations have been made to the form, or the form is not complete, and until a valid form has been submitted, employers can withhold as if the employee is single with zero withholding allowances or withhold based on a previously filed, valid form.
More Than Half of U.S. Workers Anticipate Job Market Turnaround, Signaling Critical Opportunity for Companies to Re-Engage Work Force
Randstad News Release (05/07/12)
A new study from Randstad revealed that U.S. workers are feeling more secure in their jobs and less likely to make sacrifices to keep their jobs as they see a more promising future on the horizon. Approximately 75% of U.S. workers feel secure in their jobs and 54% expect the job market to pick up this year.
“Employees are indicating greater job security, which is a good sign for companies. As employees regain their job confidence, there is a real opportunity for employers to re-engage their work forces to maximize and improve performance, productivity, and output,” says Joanie Ruge, senior vice president and chief employment analyst for Randstad Holding U.S.
Health Care Job Growth Outpaces Other Industries
Fierce Healthcare (05/07/2012) Karen M. Cheung
The U.S. Bureau of Labor Statistics indicates that the health care industry is adding jobs faster than other sectors. Of the 19,000 health care jobs added in April, 4,100 were at hospitals, and 15,400 were in home health, physician offices, outpatient care centers, and other ambulatory health care services. Around 500 jobs were lost in nursing and residential care facilities. However, IHS chief economist Nariman Behravesh believes that within a few years, employment and wage growth will take a hit as part of a strategy to curtail health care costs.
The Business Case for Hiring Veterans
Seattle Post-Intelligencer (05/07/12)
A 2011 Apollo Research Institute survey of 831 hiring managers found that 39% viewed the hiring of military personnel less favorably when considering issues related to post traumatic stress disorder. Former Army doctor and psychiatrist Harry Croft says employers should consider hiring veterans if they want dedicated and loyal employees who think quickly and pay attention to detail. He says employers should know the symptoms of PTSD to help them handle veterans who may be struggling with it, and they should understand that PTSD does not involve violent behavior. Employers should understand that veterans work better in pairs or groups, offer them someone with whom they can discuss their PTSD in confidence, and hire veterans not because of tax breaks or patriotism but because they are the best candidates for the job.
Study: Expect More California Jobs in Second Quarter
San Diego Union Tribune (05/07/12) Jonathan Horn
Chapman University’s California Employment Indicator Index rose to 110.4 in the second quarter from 109.1 in the first quarter, with readings over 100 meaning positive job growth is expected. The number of jobs created statewide should rise to 65,000 in the second quarter from 58,000 during the first quarter, says Esmael Adibi, director of the Anderson Center for Economic Research at Chapman. Just over 18,000 jobs were created in April, with an unemployment rate of 11%, and Adibi says, “I believe a little improvement should show up in the next few quarters.”