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Randstad Reports First-Quarter 2015 Results

Randstad News Release (04/30/15)

Randstad reported revenues for the first quarter of €4.4 billion, an increase of 5.6% on an organic basis compared with a year ago. The company reported net income of €59.5 million, up 8% from €54.9 million in the prior year.

In the U.S., organic revenue growth was 6% above the prior year. By segment, the company reported that combined U.S. staffing and in-house businesses grew by 8% in the quarter; gross profit grew by 13%, driven by growth in permanent placement fees of 21%. The company’s professional staffing revenues were down by 1% but up 6% in gross profit; permanent placement fees in the segment were up 4%.

On Assignment Reports Results for First Quarter of 2015

On Assignment Inc. News Release (04/29/15)

On Assignment Inc. reported revenues of $430 million for the first quarter of 2015, up 5.7% (6.7% in constant currency) from $406.9 million in the first quarter of 2014. The company, which sold its physician staffing business earlier this year, reported adjusted net income from continuing operations of $13.8 million, compared with $14 million in the year-ago quarter.

By segment, revenue totaled $294.3 million for Apex, up 5.7% from $278.4 million; $127.5 million for Oxford, up 8.5% from $117.5 million; and $8.3 million for Life Sciences Europe, down 23.9% from $10.9 million.

Barrett Reports First-Quarter 2015 Financial Results

BBSI News Release (04/28/2015)

Barrett Business Services Inc. reported net revenues of $166.9 million in the first quarter of 2015, up 24% from $135.1 million in the first quarter of 2014. The company reported a net loss of $5.8 million, compared with a net loss of $3.6 million in the year-ago quarter. Staffing services revenue totaled $39.2 million, up 17% from $33.5 million in the 2014 first quarter.

Jobless Claims in U.S. Decrease to Lowest Level in 15 Years

Bloomberg (04/30/15)

The number of people applying for unemployment benefits in the week ended April 25 dropped by 34,000 to 262,000, the lowest since April 2000, according to the U.S. Department of Labor. The 50 economists surveyed by Bloomberg had forecast claims of 290,000. The four-week moving average of new claims fell by 1,250 to 283,750.

Employment Costs Rise 0.7%

Wall Street Journal (04/30/15) Ben Leubsdorf; Kate Davidson

Labor costs increased in early 2015, indicating that the labor market may be tightening. The employment-cost index climbed a seasonally adjusted 0.7% in the first quarter, according to the U.S. Department of Labor. Economists polled by the Wall Street Journal had forecast the gauge would increase 0.6%. Civilian worker wages and salaries increased 0.7% in the first quarter, up from 0.6% growth in the fourth quarter of 2014. Benefit costs climbed 0.6%, matching their growth in the fourth quarter.

Economists say that price and wage increases should accelerate as the economy recovers, the labor market tightens, and employers compete to hire from a shrinking pool of available employees.

Shrugging Off Slow Growth, Fed Predicts a Rebound

New York Times (04/29/15) Binyamin Appelbaum; Nelson D. Schwartz

Following a two-day U.S. Federal Reserve meeting, officials are optimistic that growth will rebound and that the central bank is likely to raise its benchmark interest rate this year. However, inflation remains sluggish and price inflation is still below the 2% annual target, while wages have slowly risen. A statement from the Fed suggests that officials believe the economic setbacks are temporary, and they are hopeful that strong summer growth will offset a weak first quarter.

U.S. Consumer Spending Rose 0.4% in March

Wall Street Journal (04/30/15) Kate Davidson; Ben Leubsdorf

Consumer spending increased moderately in March, but consumers appear to remain cautious. Personal spending rose a seasonally adjusted 0.4% from February, according to the U.S. Department of Commerce. Spending had risen 0.2% in February, revised up from what had previously been reported, after declining in January.

Personal income was flat in March, compared with February, and was the weakest reading since December 2013. Economists polled by the Wall Street Journal had forecast spending would increase 0.5% in March and income would rise 0.2%.

Many economists anticipate improvements in the second quarter, as the effects of harsh winter weather across much of the country and disruptions at West Coast port terminals wear off.

Watch for These Webinars in May

The next few weeks will be full of educational opportunities from ASA. These upcoming ASA webinars can help you with your organizational culture, branding, communication, and more.

May 12—”Five Key Steps to Building an Effective Workplace Culture

Learn how having a dynamic, positive culture can help your firm keep its best employees.

May 14—”Speak for Profitability—Top Communication Strategies for Attracting Business

Get practical speaking tips that will help you communicate effectively and attract more candidates and clients.

May 19—”Attract Candidates With a First-Rate Employer Brand

Discover methods for differentiating your company through employer branding and developing its reputation as a great place to work.

May 21—”Power Marketing for Staffing Firms

Understand how developing a marketing plan, and integrating it with your company’s sales and recruiting efforts, can give your staffing firm a competitive edge.

ASA webinars are $295 for nonmembers and qualify for continuing education hours toward ASA certification renewal. Join ASA and enjoy ASA webinars for FREE.