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Randstad Results for Q4 2013

Randstad News Release (02/20/14)

Randstad reported revenues of €4,278 million for the fourth quarter of 2013, up 1.0% from €4,235 million in the fourth quarter of 2012, and €16,57 million for all of fiscal 2013, down 3.0% from €17,09 million. The company reported net income of €54.1 million in the fourth quarter of 2013, up 156.0% from a net loss of €97.4 million in the year-ago period, and €230.7 million for the full year, up 529.0% from €37 million in 2012.

North American revenues totaled €916.5 million for the fourth quarter, down 2.0% from €992.2 million, and €3,687 million for 2013, down 3.0% from €3,947 million in 2012. The company’s staffing revenues totaled €2,578 million in the fourth quarter, down 2.0% from €2,608 million, and €10,038 million for 2013, down 5.0% from €10,566 million in 2012.

On Assignment Reports Results for Fourth Quarter and Full-Year 2013

On Assignment Inc. News Release (02/19/14)

On Assignment Inc. reported revenues of $423.6 million for the fourth quarter of 2013, up 14.7% from $369.4 million in the fourth quarter of 2012. Net income totaled $32.4 million, up 128.0% from $14.2 million in the year-ago period. For all of 2013, the company reported revenues of $1.63 billion, up 43.0% from $1.14 billion in 2012. Net income totaled $84.5 million for the year, up 98.0% from $42.7 million in 2012.

By segment, the company reported fourth-quarter revenues of $249.9 million for Apex, up 20.0% from $207.6 million; $101.8 million for Oxford, up 6.6% from $95.5 million; $45 million for life sciences, up 11.7% from $40.3 million; and $26.8 million for physician, up 2.7% from $26.1 million. For the full year, revenues totaled $942.5 million for Apex, up 85.0% from $508.7 million in 2012; $412.2 million for Oxford, up 13.0% from $363.8 million; $171.5 million for life sciences, up 5.0% from $162.8 million; and $105.8 million for physician, up 3.0% from $102.7 million.

As Unemployment Falls, Fed Puts Rate Increase on the Radar

Wall Street Journal (02/20/14) Jon Hilsenrath; Victoria McGrane

The U.S. Federal Reserve has held short-term interest rates near zero since December 2008, at the height of the financial crisis, and chairman Janet Yellen shows no appetite for raising them soon. Still, a few Fed officials argued at a Jan. 28-29 policy meeting that increases might be needed soon to prevent the economy from overheating, according to the recently released minutes of the meeting.

Surprising declines in the unemployment rate in recent months have forced officials to start discussing their plans for eventual rate hikes, what will impel them to act, and how to guide the public about their likely course in the months ahead. Fed officials at the meeting agreed, “it would soon be appropriate” for the Fed to adjust its guidance. But there appeared to be little agreement about how they should describe their interest rate plans in the future.

Jobless Claims in U.S. Decreased Last Week as Firings Abated

Bloomberg (02/20/14) Jeanna Smialek; Shobhana Chandra

U.S. jobless claims decreased by 3,000 to 336,000 in the week ended Feb. 15, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast a drop to 335,000. The four-week moving average of claims increased to 338,500 from 336,750 a week earlier, a sign that employers are holding the line on firings.

Consumer Prices Up Slightly in January

Wall Street Journal (02/20/14) Eric Morath; Jonathan House

Consumer prices advanced an anemic 0.1% in January from December, according to the U.S. Department of Labor. Household energy costs drove the gain. Core prices, which exclude food and energy costs, also rose 0.1%. Economists polled by Dow Jones had expected overall prices to rise 0.1% and core prices to rise 0.2%.

Lowe’s Hiring Fewer Seasonal Employees This Spring

Charlotte Observer (North Carolina) (02/19/14) Ely Portillo

Lowe’s will hire 25,000 temporary seasonal employees this spring, down from 45,000 during spring 2013. A company spokesperson said the company hired more employees overall last year and therefore needs fewer seasonal employees this year. The average seasonal employee will work 20 hours per week. Meanwhile, Home Depot plans to hire 80,000 temporary seasonal employees this year.

2014 Best of Staffing Award Winners Earn the Industry’s Highest Satisfaction Ratings

Inavero News Release (02/19/14)

ASA corporate partner Inavero has announced this year’s Best of Staffing Award winners. The awards program, sponsored by ASA corporate partner CareerBuilder, features two categories—best client service and best job candidate experience. Winning firms are those that receive the highest satisfaction ratings from their clients or placed talent.

Inavero chief executive officer Eric Gregg notes that the majority of this year’s winners are also ASA members, suggesting a relationship between membership and overall excellence. “Best of Staffing winners in 2014 continue to set the bar for quality in the staffing and recruiting industry,” says Gregg. “While fewer than 2% of all U.S. and Canadian staffing firms earned a 2014 Best of Staffing award, 70% of those winners are American Staffing Association members.”

The 2014 Best of Staffing client award winners received satisfaction ratings of nine or 10 out of 10 from 73% of their clients, more than double the industry’s average of 35%. The 2014 Best of Staffing talent award winners received satisfaction ratings of nine or 10 out of 10 from 73% of their employees, compared with the industry’s average of 53%.

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