Resources Global Professionals News Release (04/02/13)

Resources Connection Inc. reported $138 million in revenue during the third quarter of fiscal 2013, down from $143.3 million during the third quarter of fiscal 2012. U.S. revenues were flat sequentially and rose 1.1% over the third quarter of last year. Revenue for the nine months ended in February was $416.2 million, down from $426.3 million during the same period in 2012. The company’s net income for the third quarter of fiscal 2013 was $4.5 million, up from $4.3 million in the third quarter of fiscal 2012. Net income for the nine months ended in February was $15.2 million, down from $32.2 million during the same period last year.

USA Today (04/03/13) Paul Davidson

Private employers added 158,000 jobs in March, the smallest gain in five months and falling short of economists’ expectations, payroll processor ADP reported today. Economists had forecast that ADP would report private-sector job gains of 215,000. They expect the U.S. Department of Labor on April 5 to report 195,000 net jobs added in March, including not just the private sector but also federal, state, and local governments, which have been cutting payrolls.

Professional and business services led job gains with 39,000, trade and transportation added 22,000, and financial firms, 9,000. Construction companies added no net new jobs after several months of solid gains during a housing rebound. Small businesses and midsize businesses accounted for most of the job gains for the third straight month. Small businesses added 74,000 jobs, midsize ones, 37,000, and large companies, 47,000.

MarketWatch (04/02/13)

The Philadelphia Fed’s coincident index ticked up 0.3% in February for a 2.8% year-on-year increase. Alabama, Illinois, and New Mexico realized declines in coincident indexes in February, while 45 states realized improvements and Hawaii and Wyoming held steady. North Dakota and Texas saw some of the biggest gains, thanks to their energy industries. The coincident index combines four variables—nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and real wage and salaries—in one index, roughly mirroring gross domestic product growth.