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Korn/Ferry International Announces Third Quarter Fiscal 2013 Results

Korn/Ferry International News Release (03/06/13)

Korn/Ferry International reported total revenue of $210.3 million for the fiscal third quarter of 2013, up 8% from $194.6 million during the same period last year. The global talent management solutions provider also reported net income of $9.5 million for the fiscal third quarter, down 23% from $11.7 million a year ago. Total revenue for its executive recruitment segment was $135.7 million, down 2% from $138.5 million. Its leadership and talent consulting segment reported total revenue of $43.1 million, up 48% from $29.1 million, and its Futurestep segment reported total revenue of $31.5 million, up 16% from $27 million.

Fed: U.S. Economic Growth Continues at Moderate Pace

American Staffing Association (03/07/13) Alexandra Karaer

The nation’s economy continued to improve, according to the Federal Reserve Board’s latest studies of regional economies (known as the “beige book” reports). Reports from 10 of the 12 Federal Reserve districts characterized economic growth as “modest” or “moderate” during the first six weeks of 2013. The Boston and Chicago districts indicated that growth was “slow” over the period. The majority of districts reported modest improvements in labor market conditions, although hiring plans were limited in many regions.

Jobless Claims Fall as Labor Recovery Grinds On

Wall Street Journal (03/07/13) Jeffrey Sparshott; Sarah Portlock

The number of U.S. workers filing new applications for unemployment benefits unexpectedly fell last week, the latest sign of a slowly improving labor market. The U.S. Department of Labor reported today that initial jobless claims decreased by 7,000 to a seasonally adjusted 340,000 in the week ended March 2. It was the third lowest number of initial claims in five years. Economists surveyed by Dow Jones Newswires had forecast 350,000 new applications for jobless benefits. The average of new claims over the past month, which smoothes out weekly volatility, fell by 7,000 to 348,750, touching its lowest level since March 2008.

Online Labor Demand Dips 44,400 in February

Conference Board News Release (03/06/13)

The Conference Board’s Help Wanted OnLine Data Series shows a drop in online advertised job vacancies of 44,000 last month to 5.06 million, with a supply and demand rate of 2.4 unemployed per vacancy. The report indicates that online labor demand fell in 40 states, but 44 states remain above the levels reported in February 2012. Online labor demand also declined in 32 of the 52 biggest metro areas, but gains were reported in Philadelphia, New York, Cleveland, Baltimore, Houston, and Los Angeles. By occupational group, gains were seen in office and administrative support; transportation and material moving; and installation, maintenance, and repair; but declines were reported in sales and related; health care practitioners and technical; business and financial operations; and food preparation and serving-related occupations.

Challenger: U.S. Job Cuts in February Up 37% From Previous Month

Dow Jones Newswires (03/07/13) Kristin Jones

Layoffs planned by U.S.-based companies increased 37% in February from the previous month, driven by job cuts in the financial sector, according to data from Challenger Gray & Christmas Inc. However, the cuts continued to be offset by more hiring. Planned hiring announcements, which represent a fraction of the actual hiring activity in the economy, totaled 92,372 in February.

U.S.-based employers in February said they planned to cut 55,356 jobs, 7% more than the same period a year ago. The financial sector accounted for 21,724 of those planned job cuts, with J.P. Morgan Chase & Co. alone saying it would reduce its headcount by 19,000 over the next two years as it trims its mortgage business in response to an improving housing market. Challenger also notes 3,000 job cuts planned by United Technologies Corp., which may foreshadow further layoffs by aerospace and defense companies as wide government spending cuts take effect.

Free ASAPro Webinar Today—Learn About the ASA Compensation Survey

Get your company’s compensation rates in line with current industry data by participating in the ASA Compensation Survey. Not sure how it all works? Attend today’s free ASAPro webinar “2013 ASA Compensation Survey,” 3–4 p.m. Eastern time. It will walk you through the online survey instrument and tell you more about the valuable survey reports you get in return, including how to access comparative reports on benefits and pay for 29 positions specific to the staffing industry.

Once you become an ASA Compensation Survey participant, your staffing company can add additional users, add and access data throughout the year, and create your own custom reports. Don’t miss this opportunity to learn more about this powerful tool. Register today at americanstaffing.net. This webinar is free for ASA members.

Staffing Industry Legislative Challenges Won’t Go Away—Webinar Next Week

Health care reform mandates are scheduled to take effect in less than a year. At the same time, the staffing industry faces potential organized labor activity and aggressive enforcement by federal agencies. Are you prepared?

The American Staffing Association is on the front lines—educating lawmakers in Washington and at your statehouse. Review upcoming challenges for the staffing industry during the free ASAPro webinar “Staffing Industry Legislative and Regulatory Issues,” Wednesday, March 13, 2?3 p.m. Eastern time.

During this webinar, you will learn about
  • Potential lawsuits resulting from guidance by the U.S. Equal Employment Opportunity Commission on the use of criminal background checks
  • Health care reform and its new mandates, which are set to take effect in 2014
  • Renewed efforts by organized labor
  • Aggressive enforcement by federal agencies
  • Recent updates to state staffing legislation
Don’t fall behind on the issues. Find out how to protect your business—register for this free webinar.