Adecco Group News Release (11/05/15)

Adecco Group reported revenues of €5.7 billion in the third quarter of 2015, up 9% (4% in constant currency) from €5.2 billion in the third quarter of 2014. The company reported a net loss of €513 million, compared with net income of €198 million in the year-ago quarter.

North American revenues totaled €1.2 billion, up 1% (1% in constant currency) from €986 million in the 2014 third quarter. The company reported revenues of €4.3 billion for general staffing, which accounts for approximately half of North American revenues—up 9% (5% in constant currency) from €3.9 billion. Professional staffing revenues were €1.3 billion, up 10% (down 1% in constant currency) from €1.2 billion. Revenues grew 14% for medical and science staffing, 7% for industrial, 5% for finance and legal, and 3% for information technology. Permanent placement revenues in North America were up 17%.

AMN Healthcare Services News Release (11/04/15)

AMN Healthcare Services Inc. reported revenue of $382.9 million in the third quarter of 2015, up 45% from $264.6 million in the third quarter of 2014, driven both by organic growth and by acquisitions. Net income totaled $33.6 million, up from $8.5 million in the year-ago quarter.

By segment, revenue totaled $266 million in the third quarter for nurse and allied health care staffing, up 53% from $174 million in last year’s third quarter; $102 million for locum tenens staffing, up 29% from $79 million; and $15 million for physician permanent placement services, up 29% from $11 million.

CDI Corp. News Release (11/04/15)

CDI Corp. reported revenue of $244.7 million in the third quarter of 2015, down 17.3% from $295.7 million in the third quarter of 2014. The company reported a net loss of $20.2 million, compared with net income of $5.4 million in the year-ago quarter. In the third quarter of 2015, the company recorded $21.5 million of impairment charges related to certain businesses in the global engineering and technology solutions segment and the professional staffing services segment.

Revenue totaled $146.9 million for its professional staffing services segment, down 23.7% from $192.4 million in the 2014 third quarter. Revenue totaled $13.5 million for Management Recruiters International Inc., down 9.5% from $14.9 million.

Cross Country Healthcare Inc. News Release (11/04/15)

Cross Country Healthcare Inc. reported revenue of $195.7 million in the third quarter of 2015, up 4% from $188.9 million in the third quarter of 2014. Net income totaled $5 million, compared with a net loss of $7.6 million in the year-ago quarter.

By segment, third quarter revenue totaled $157.3 million, up 6% from $147.9 million in last year’s third quarter, and $31 million for physician staffing, down 3% from $32 million.

Wall Street Journal (11/04/15) Harriet Torry

The U.S. service sector in October grew at a faster pace than in September, according to the Institute for Supply Management. The ISM’s nonmanufacturing purchasing-managers index rose from 56.9 in September to 59.1 in October, a three-month high. Employment rose from 58.3 in September to 59.2.

Separately, data provider Markit said its service-sector composite fell from 55.1 in September to 54.8 in October.

Wall Street Journal (11/05/15) Eric Morath; David Harrison

Employee productivity increased at a modest pace in the third quarter, because companies reduced hours when output gains slowed. Nonfarm worker productivity rose at a 1.6% seasonally adjusted annual rate in the third quarter, according to the U.S. Department of Labor. That was a slowdown from the upwardly revised 3.5% productivity gain in the second quarter. However, the increase was above expectations. Economists polled by the Wall Street Journal had forecast a 0.3% decrease from the second quarter. Productivity was up 0.4% from a year ago.

Meanwhile, unit labor costs rose at a 1.4% annual rate in the third quarter, compared with a 1.8% decline in the second quarter. Unit labor costs were up 2.0% on an annual basis.

MarketWatch (11/05/15) Jeffry Bartash

The number of people applying for unemployment benefits rose by 16,000 to 276,000 in the week ended Oct. 31, according to the U.S. Department of Labor. Economists polled by MarketWatch had expected claims to increase by 2,000 to 262,000. The average of new claims over the past month rose by 3,500 to a seasonally adjusted 262,750.