February 6, 2015

BLS: Staffing Employment Up 6.7% From a Year Ago

Published February 06, 2015 ■ Announcement

Temporary help employment showed little change from December 2014 to January 2015 and was 6.7% higher last month than in January 2014, according to seasonally adjusted data released today by the U.S. Bureau of Labor Statistics. Year-to-year staffing job growth averaged 5.7% in 2014, compared with 4.9% in 2013 (including the effects of the annual BLS benchmark process).

Nonseasonally adjusted BLS data, which estimate the actual number of jobs in the economy, indicated that temporary help employment decreased 7.4% from December 2014 to January 2015, better than the 15-year seasonal average decline of 8.4%. Year-to-year, there were 7.2% more staffing employees in January than in the same month last year.

“Staffing firms are reporting that favorable labor market trends continued in January across most sectors,” said Richard Wahlquist, president and chief executive officer of the American Staffing Association. “The January jobs report confirms that the economy is growing, as are more and better employment opportunities for U.S. workers.”

Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?

Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.

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TrueBlue Reports Q4 and Full-Year 2014 Results

Published February 06, 2015 ■ Headline News

TrueBlue News Release (02/05/15)

TrueBlue Inc. reported revenues of $691 million in the fourth quarter of 2014, up 54% from $449 million in the fourth quarter of 2013. Net income totaled $27 million, up 86% from $14.5 million in the year-ago quarter.

Revenue for the full year totaled $2.2 billion, up 30% from $1.7 billion in 2013. The company reported net income of $65.7 million for the year, up 46% from $44.9 million.

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U.S. Productivity Falls in Last Months of 2014

Published February 06, 2015 ■ Headline News

Wall Street Journal (02/05/15) Ben Leubsdorf

Employee productivity fell in the fourth quarter of 2014, the latest indication of weak gains that could constrain the economy’s long-term expansion. Nonfarm worker productivity dropped at a seasonally adjusted 1.8% annual rate during the fourth quarter of 2014, according to the U.S. Department of Labor. Productivity fell in the fourth quarter because output increased at a 3.2% pace but hours worked rose at a 5.1% rate, the biggest increase in hours since the fourth quarter of 1998. Economists polled by the Wall Street Journal had forecast productivity would be flat in the fourth quarter.

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Free ASA Webinar Next Month—Negotiating Tips

Published February 06, 2015 ■ ASA for You

Do you need to strengthen your negotiation skills? Learn how to close more job orders and place more candidates into better positions during the ASA webinar “Negotiating With Confidence.” It takes place Thursday, March 5, 3–4 p.m. Eastern time.

All ASA webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.