Command Center Inc. News Release (03/20/14)

Command Center Inc. has reported revenue of $24.6 million for the fourth quarter of 2013, down 8% from $26.7 million in the fourth quarter of 2012. The decrease in revenue is attributable to a lack of large-scale disaster relief projects occurring in the fourth quarter of 2013, in contrast to 2012, when the company undertook work related to Hurricane Sandy recovery. Excluding revenue from disaster recovery work, revenue increased 8% in the fourth quarter of 2013 compared with a year earlier. Revenue for the full year totaled $93.7 million, down 5% from $98.4 million in 2012. Excluding revenue from disaster recovery work, revenue increased 8% in 2013.

The company also reported net income of $1.2 million for the fourth quarter, up 121% compared with net income of $556,000 in the same quarter a year ago. Net income for the year was $2.9 million, up 89% from $1.6 million in 2012.

Wall Street Journal (03/20/14) Jonathan House

Workers in some industries are seeing explosive wage growth, while workers in other industries continue to struggle financially. Skilled blue-collar construction and oil field workers are commanding top pay due to a shortage of qualified people. Otherwise, wages are “signaling weakness in the labor market,” says U.S. Federal Reserve chairman Janet Yellen.

High unemployment the last several years has suppressed wages. Average annual increases in hourly earnings have lingered near 2%, before adjusting for inflation. Wages grew by 3% in 2007, prior to the recession.

Reuters (03/20/14) Lucia Mutikani

The Philadelphia Federal Reserve Bank’s mid-Atlantic manufacturing activity index climbed to 9.0 in March from negative 6.3 in February. A reading above zero signals expansion.

There was a rebound in new and unfilled orders at factories in the region covered by the Philadelphia Fed. Existing employees worked longer hours, but most factories did not hire new employees.