Korn/Ferry International News Release (12/04/13)

Korn Ferry reported $246.2 million in total revenue for the second quarter of fiscal 2014, up 20.2% from $204.8 million during the same period in fiscal 2013. The company’s net income was $18.8 million, up from $1.2 million a year ago.

By segment, the company reported total revenue of $145.3 million for its executive recruitment business, up 9.2% from $133.1 million; $68.2 million for its leadership and talent consulting business, up 68% from $40.6 million; and $32.7 million for Futurestep, up 5.1% from $31.1 million.

GSA Business (South Carolina) (12/04/13)

South Carolina-based staffing firm HKA Enterprises has acquired California-based staffing firm Midcom Corp. Midcom specializes in information technology and engineering, which complements the services currently offered by HKA.

PR Newswire (12/04/13)

Jackson Healthcare, the nation’s third largest health care staffing company, has announced the purchase of Tyler & Co., a national firm that recruits health care executives for organizations including hospitals, health systems, physician group practices, and academic medical centers.

Tyler & Co. officially joined Jackson Healthcare on Dec. 1. Tyler & Co. will continue as an independently run firm.

American Staffing Association (12/05/13)

The U.S. economy continued to expand at a modest to moderate pace from early October through mid-November, according to the U.S. Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Staffing contacts across the districts remain more optimistic than they were three months ago, expecting steady growth through the end of the year and into 2014. Demand for professional business services experienced stable to moderate growth, especially computer and information technology services. Hiring showed a modest increase or was unchanged across the 12 districts. Difficulty with finding qualified workers, especially for high-skilled positions, was frequently reported. Reports on retail spending and tourism were positive, although the federal government shutdown had a negative effect in some areas.

Bloomberg (12/05/13) Victoria Stilwell

The U.S. gross domestic product increased by 3.6% in the third quarter, up from an initial estimate of 2.8%, according to the U.S. Department of Commerce. Economists surveyed by Bloomberg had predicted an increase of 3.1%. GDP grew 2.5% in the second quarter and 1.1% in the first quarter.

GDP was boosted by a buildup in inventory. Because of the stockpiling, factory production could slow if demand doesn’t increase.

Bloomberg (12/05/13) Jeanna Smialek

Applications for U.S. unemployment benefits fell to their lowest level in two months last week. They dropped 23,000 to 298,000 in the week ended Nov. 30, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had predicted an increase to 320,000. The holiday season brings volatility to the figures. The four-week moving average fell to 322,250 from 333,000.

Bloomberg Businessweek (12/04/13) Michelle Jamrisko; Victoria Stilwell

The Institute for Supply Management’s nonmanufacturing index fell to 53.9 this month from 55.4 in October. Economists surveyed by Bloomberg had predicted a fall to 55. Readings above 50 indicate expansion.

A slowdown in hiring and business activity caused the index to decline. Meanwhile, new orders for the service industries held steady.