Kforce Inc. News Release (04/28/15)

Kforce Inc. reported revenues of $312.6 million for the first quarter of 2015, up 10.8% from $282 million in the first quarter of 2014. Income from continuing operations was $5.8 million, up from $4.4 million in the first quarter of 2014.

By segment, revenue totaled $213.6 million for technology, up 8.7% from $196.5 million, and $73.1 million for finance and accounting, up 16.4% from $62.8 million.

“Demand remains very strong across all industries and geographies in both Tech and FA,” says David L. Dunkel, chairman and chief executive officer of Kforce.

Advantage Resourcing America Inc. News Release (04/28/15)

Advantage Resourcing America Inc., a wholly owned subsidiary of Tokyo-based Recruit Holdings Co. Ltd., has agreed in principle to acquire a 100% interest in Atterro Inc., a provider of specialty staffing solutions operating under the brands Digital People, Hunter Hamilton, Pro Staff, Blue Edge RPO, Ware Technology Services, and Technical ProSource.

Wall Street Journal (04/29/15) Jeffrey Sparshott; Kate Davidson

The economy slowed significantly in the first quarter of 2015 due to harsh winter weather across much of the country, a reduction in corporate investment, a decline in exports, and reduced consumer spending, continuing the uneven growth seen during the nearly six-year economic expansion. Gross domestic product expanded at a 0.2% seasonally adjusted annual rate in the first quarter, according to the U.S. Department of Commerce, down from a 2.2% pace in the fourth quarter of 2014. Economists polled by the Wall Street Journal had forecast growth of 1.0% in the first quarter.

The first-quarter numbers repeat a pattern seen in recent years: one or two strong readings followed by a big retrenchment. Prior to this year, first-quarter GDP growth had averaged 0.6% since 2010 and all other quarters had averaged 2.9%, meaning moderate overall expansion.

Although most economists anticipate a second-quarter rebound, some forecasts are muted. J.P. Morgan Chase, for example, has forecast GDP of 2.5% in the second quarter.

Federal Reserve Bank of Richmond (04/28/15)

Manufacturing activity remained soft in April, according to the most recent survey by the Federal Reserve Bank of Richmond. The composite index for manufacturing rose to a reading of -3 following March’s reading of -8. The index for shipments and the index for new orders gained seven points in April; both indicators finished at -6.

Manufacturing employment grew mildly in April, up one point to 7. The average work week lengthened, and the index rose eight points to 4. The average wage index added one point and finished at 9. Manufacturers anticipate steady growth in hiring in the months ahead. However, that index finished eight points below last month’s gauge at a reading of 15. Additionally, the index for expected average wages lost three points to end at 28, while the index for the expected average work week gained four points to end at 12.