Kelly Services News Release (05/06/15)

Kelly Services Inc. reported revenue of $1.32 billion for the first quarter of 2015, down 0.8% (up 4.4% in constant currency) from $1.33 billion in the first quarter of 2014. Net earnings totaled $3.7 million, up 48.3% from $2.5 million in the year-ago quarter.

Revenue for the Americas totaled $874.2 million, up 2.9% (4.2% in constant currency) from $849.6 million on a year-to-year basis, with U.S. revenues totaling $883 million, up 5.1% (5.1% in constant currency) from $839.9 million. Revenue totaled $96.1 million for the Asia-Pacific region, up 5% (14.5% in constant currency) from $91.6 million, and was $149.5 million for outsourcing and consulting services, up 11.2% (12.6% in constant currency) from $134.4 million.

TeamHealth Holdings News Release (05/05/15)

Team Health Holdings Inc. reported net revenue of $840.5 million in the first quarter of 2015, up 31% from $641.7 million in the first quarter of 2014. Net earnings totaled $28.1 million, up 18% from $23.8 million in the year-ago quarter.

CDI Corp. News Release (05/05/15)

CDI Corp. reported revenue of $257.5 million in the first quarter of 2015, down 6.8% from $276.3 million in the first quarter of 2014. Net income totaled $470,000, down 76.5% from $2 million in the year-ago quarter. The company’s staffing services segment posted revenue of $161.4 million, down 10.4% from $180.1 million on a year-to-year basis.

“We are implementing with a sense of urgency multiple business improvement initiatives to deliver profitable growth and transform CDI,” said Scott J. Freidheim, the company’s chief executive officer and president.

Conference Board News Release (05/06/15)

Online advertised vacancies decreased 104,500 to 5.4 million in April, according to the Conference Board Help Wanted OnLine Data Series. The March supply and demand rate stands at 1.57 unemployed for each advertised vacancy, with a total of 3.1 million more unemployed workers than the number of advertised vacancies. The number of unemployed was 8.6 million in March.

A significant drop in the supply and demand rate from 5.0 in April 2009 to 1.57 currently has been helped by very strong employer demand, ranging from four million to five million ads each month over the past four years, making it easier for the recession’s 15 million unemployed to find employment opportunities. With the recession’s unemployment numbers finally down significantly, the continued high employer demand at five million ads per month will make the job search for new entrants into the labor market much easier.

Wall Street Journal (05/06/15) Kathleen Madigan

Private-sector payrolls in April rose by 169,000 jobs, according to Automatic Data Processing Inc. and Moody’s Analytics. Economists polled by the Wall Street Journal had forecast an increase of 205,000 new jobs. Meanwhile, the March ADP increase was revised down to 175,000 from 189,000, a number that had been below expectations. ADP said the decline in oil prices and the value of the dollar “are weighing on job creation.”

Small businesses continue to support job growth. Companies employing between one and 49 employees hired 94,000 new workers. Medium-sized businesses with payrolls of 50 to 499 employees added 70,000 workers. Large firms with 500 or more employees, which employ nearly half of the U.S. workforce, added 5,000 workers.

The manufacturing sector cut 10,000 jobs, ADP said. The service sector added 170,000 jobs, and the construction sector added 23,000 jobs.

Wall Street Journal (05/05/15) Kathleen Madigan

The Institute for Supply Management’s nonmanufacturing purchasing managers index increased to 57.8 in April from 56.5 the month before and was higher than the 56.3 forecast by experts polled by the Wall Street Journal. New orders rose to 59.2 in April from 57.8 in March, and the export index dropped to 48.5 from 59.0. The business activity and production index increased to 61.6 from 57.5.

In contrast, Markit’s service-sector composite slowed to 57.4 from 59.2 in March, though the April index was above the first-quarter average of 56.8, and the employment index was at a 10-month high.

Wall Street Journal (05/06/15) Jeffrey Sparshott; Josh Mitchell

Productivity declined a 1.9% seasonally adjusted annual rate in the first quarter, according to the U.S. Department of Labor. Economists polled by the Wall Street Journal had forecast a 1.8% decline from the fourth quarter of 2014. Output fell at a 0.2% pace, and hours worked increased at a 1.7% rate. Productivity data can be volatile and often are substantially revised. Still, productivity has declined for two consecutive quarters, the first time that has occurred since 2006.

Meanwhile, unit labor costs rose at a 5.0% annual rate in the first quarter. Economists had forecast a 4.3% increase.