Randstad News Release (02/19/15)

Randstad Holding NV reported revenue of 4.5 billion euros in the fourth quarter of 2014, up 5% from the year-ago quarter. Earnings before interest, taxation, and amortization totaled 199 million euros during the fourth quarter, which officials attribute to a boost in business in North America and the Netherlands.

In the fourth quarter of 2014, combined U.S. staffing and in-house businesses grew by 10% per working day, driven by a strong performance in the industrial segment. Administrative growth accelerated during the quarter. Overall gross profit grew by 8%, and permanent placement fees increased by 23%. The company’s professional staffing business remained stable in the quarter, with gross profit increasing by 5% and permanent placement fees up by 17%.

On Assignment Inc. News Release (02/18/15)

On Assignment Inc. reported revenues of $475.8 million for the fourth quarter of 2014, up 12.5% from $322.3 in the fourth quarter of 2013. The company reported adjusted net income of $31.4 million.

Bloomberg (02/19/15) Shobhana Chandra

The number of people applying for unemployment benefits in the week ended Feb. 14 dropped by 21,000 to 283,000, according to the U.S. Department of Labor. The 50 economists surveyed by Bloomberg had forecast claims of 322,000. The four-week moving average of new claims fell by 6,500 to 283,250, a three-month low.

New York Times (02/19/15) Binyamin Appelbaum

U.S. Federal Reserve officials have tentatively begun discussions on when to raise interest rates if the economy continues to perform well. No clear outline on when the central bank will raise interest rates has emerged, but staff economists have discussed rate increase timing, refined plans for the mechanics of pushing rates higher, and what guidance for the public will look like on the rate outlook, according to the January Federal Open Market Committee meeting minutes. Fed officials have said previously that they are looking at a mid-year interest rate increase, but the minutes reveal that officials are inclined to wait as long as they can before raising rates, though none were clear on how long that would be. The Fed meets again in March, which could lead to discussions of when interest rate hikes will occur and whether to drop the “be patient” language from its policy statements.

Conference Board News Release (02/19/15)

The Conference Board Leading Economic Index (LEI) went up 0.2% to 121.1 in January, compared with a 0.4% rise in December and a 0.3% increase in November. The Coincident Economic Index went up 0.2% to 111.6 and the Lagging Economic Index rose 0.3% to 115.3

“The U.S. Leading Economic Index increased again in January, but its pace of growth has moderated in recent months,” said Ataman Ozyildirim, economist at The Conference Board. “While the LEI suggests a positive short-term outlook in 2015, the lack of strong momentum in residential construction, along with a weak outlook for new orders in manufacturing, poses a downside risk for the U.S. economy.”