ASA Data: Staffing Firms Employed Three Million People Per Day in Q3
U.S. staffing companies employed an average of 3.03 million temporary and contract employees per day in the third quarter of 2013, up 2.6% from the same period in 2012, according to survey data released today by the American Staffing Association. The ASA Staffing Employment and Sales Survey collects information on U.S. temporary and contract staffing employment and sales on a quarterly basis.
Temporary and contract staffing sales totaled $27.38 billion in the third quarter of 2013, 2.8% higher than the same period in 2012. Third quarter sales were nearly $444 million higher (1.6%) than in the second quarter of 2013.
For more details about the quarterly ASA Staffing Employment and Sales Survey, visit americanstaffing.net.
Korn Ferry Announces Second Quarter Fiscal 2014 Results of Operations
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.
HKA Enterprises Acquires Midcom Corp.
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.
Jackson Healthcare Acquires Executive Search Firm Tyler & Co.
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.
ASA: Fed Says U.S. Economic Expansion Continues at a Moderate Pace
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.
GDP: Economy in U.S. Expands at 3.6% Rate on Bigger Inventory Build
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.
Jobless Claims in U.S. Unexpectedly Drop to Two-Month Low
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.
Services Slowdown Highlights Uneven U.S. Expansion
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.
Free ASAPro Webinar Today—Use Data to Improve Your Bottom Line
Are you getting the data you need to make the best decisions for your business? During the ASAPro webinar “Using Staffing Metrics to Create a Culture of Performance,” explore the seven critical performance ratios and learn how to use them. The webinar takes place Thursday, Dec. 5, 3–4 p.m. Eastern time.
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.
See Charlie Cook at the 2014 ASA Staffing Law Conference
The ASA Staffing Law Conference is the only program dedicated to the legal issues affecting the staffing and recruiting business. The 2013 conference attracted a sold-out crowd, and the upcoming event, May 21–22 in Washington, DC, is likely to be even more popular. Political analyst and pundit Charlie Cook, editor and publisher of the Cook Political Report, will offer insights into political trends and what to expect in upcoming elections.
The conference will take place at the Omni Shoreham Hotel, which is currently accepting hotel room reservations.