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Cross Country Healthcare Announces Third Quarter Financial Results

Cross Country Healthcare Inc. News Release (11/06/13)

Cross Country Healthcare Inc. reported $108 million in revenue for the third quarter of 2013, down 4% from $112.3 million during the same period last year. Net income was $914,000, up 94.8% compared with a net loss of $17.6 million in the third quarter of 2012. The company also reported revenues of $67.4 million for its nurse and allied staffing segment, down 3.4% from $69.8 million; $31.5 million for its physician staffing segment, down 3.7% from $32.7 million; and $9.1 million for its other human capital management services, down 7.1% from $9.8 million.

Economy in U.S. Expands at a 2.8% Rate on Inventories

Bloomberg (11/07/13) Shobhana Chandra

U.S. Gross Domestic Product rose 2.8% in the third quarter of 2013, up from 2.5% the quarter before, according to the U.S. Department of Commerce. Economists surveyed by Bloomberg had forecast an increase of 2%. Consumer spending rose 1.5%, the smallest increase since 2011. Inventories added 0.8% to growth, and increased at an $86 billion annualized pace, up from $56.6 billion in the second quarter.

Jobless Claims in U.S. Fell to 336,000 Last Week as Forecast

Bloomberg (11/07/13) Jeanna Smialek

Jobless claims in the U.S. dropped 9,000 to 336,000 in the week ended Nov. 2, from 345,000 the week before, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had predicted a drop to 335,000. The less-volatile four-week moving average fell to 348,250 last week from 357,500 the prior week.

The Conference Board Leading Economic Index for the U.S. Increased in September

Conference Board News Release (11/06/13)

The Conference Board’s Leading Economic Index for the U.S. hit 97.1 in September, up 0.7% from the prior month. This marks the third consecutive monthly gain, as the index rose 0.7% in August and 0.4% in July. The LEI is intended to provide a six-month forecast of future economic activity.

Ken Goldstein, an economist at the Conference Board, says, “The September LEI suggests the economy was expanding modestly and possibly gaining momentum before the government shutdown.” Meanwhile, the Conference Board’s Coincident Economic Index for the U.S. edged up 0.2% to 106.6, and the Lagging Economic Index climbed 0.6% to 119.3.

Staffing 360 Solutions Completes Acquisition of Control Solutions International Inc.

Marketwired (11/05/2013)

Staffing 360 Solutions Inc. has closed the acquisition of Control Solutions International Inc. from a corporate entity owned by CSI’s executive team. Staffing 360 Solutions acquired all the issued and outstanding stock of CSI, which is now a wholly owned subsidiary, with the CSI executive team remaining intact.

Free ASAPro Webinar Today—Find Your Competitive Advantage

Don’t miss today’s ASAPro webinar, “Gain a Competitive Advantage—Stop the Commodity Rat Race,” from 3 to 4 p.m. Eastern time. Learn how to effectively market your value proposition and differentiate your firm in an industry that’s sometimes perceived as a commodity.

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