TrueBlue News Release (02/06/14)

TrueBlue Inc. reported revenues of $449 million in the fourth quarter of 2013, up 30.0% from $345 million in the fourth quarter of 2012. Net income totaled $14.5 million, up 95.5% from $7.4 million in the fourth quarter of 2012.

Revenue for fiscal year 2013 was $1.67 billion, up 20% from $1.39 billion for fiscal year 2012. Net income for 2013 was $44.9 million, up 33.6% from $33.6 million the prior year.

Bloomberg (02/06/14) Lorraine Woellert

Applications for U.S. unemployment benefits declined by 20,000 to 331,000 in the week ended Feb. 1, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast a decrease to 335,000. The four-week moving average of claims rose to 334,000 from 333,750.

Conference Board News Release (02/05/14)

The Conference Board’s Help Wanted OnLine Data Series shows a decrease in online advertised vacancies to 5.2 million in January from 5.3 million in December, as employers remain hesitant to expand their workforces. In December, the supply and demand rate was 2.00 unemployed per vacancy, with the number of unemployed workers exceeding the number of advertised vacancies by 5.1 million.

Online labor demand in January fell in 20 states, and supply and demand rates, based on December data, ranged from 0.48 in North Dakota, 0.80 in South Dakota, 0.83 in Nebraska, and 0.99 in Utah to 3.0 in Kentucky, 3.05 in Arkansas, and 3.32 in Mississippi. Advertised vacancies also fell in 27 of 52 metro areas. Declines were reported in 11 of the 22 occupations as well, including computer and math, sales and related, and business and financial, but health care support and food preparation and service reported gains.

Wall Street Journal (02/05/14) Kathleen Madigan

The Institute for Supply Management’s nonmanufacturing purchasing managers index rose from 53.0 in December to 54.0 in January. Economists surveyed by Dow Jones Newswires had forecast a rise to 53.5. Readings above 50 indicate expansion.

The business activity and production index rose from 54.3 in December to 56.3 in January; the employment index increased from 55.6 to 56.4; the new orders index rose from 50.4 to 50.9; the ISM inventory index advanced from 48.0 to 50.5; and the prices index increased from 54.7 to 57.1.

Bloomberg (02/06/14) Shobhana Chandra

U.S. workers were more productive in the fourth quarter of 2013 than economists had forecast, which helped to temper labor costs. Employee output per hour rose at a 3.2% annualized rate, following an upwardly revised 3.6% increase in the third quarter, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast a 2.8% increase in the fourth quarter.

Meanwhile, expenses per employee fell at a 1.6% rate, which was more than estimated. Hours worked rose at a 1.7% rate for a second consecutive quarter.