ManpowerGroup reported revenues of $5.20 billion in the fourth quarter of 2019, down 3.6% (down 1.8% in constant currency) from $5.39 billion in the fourth quarter of 2018. Net earnings totaled $138.8 million, down 12.4% (down 10.4% in constant currency) from $158.3 million in the year-ago quarter. U.S. revenue totaled $626.8 million, down 0.9% (down 0.9% in constant currency) from $632.3 million on a year-to-year basis. U.S. operating unit profit fell 12.1% (down 12.1% in constant currency) to $28.8 million in the quarter. Financial results in the quarter were impacted by the stronger U.S. dollar relative to foreign currencies compared with the prior-year period.

For all of 2019, revenue totaled $20.86 billion, down 5.1% (down 0.9% in constant currency) from $21.99 billion in 2018. Net earnings totaled $465.7 million, down 16.4% (down 13.3% in constant currency) from $556.7 million in the prior year. U.S. revenue totaled $2.51 billion, down 0.6% (down 0.6% in constant currency) from $2.52 billion on a year-to-year basis. U.S. operating unit profit fell 13.4% (down 13.4% in constant currency) to $113.2 million for the year.

“We executed well in a slow growth global economy,” said Jonas Prising, chairman and chief executive officer, adding that “we are excited to announce today’s launch of our new brand Talent Solutions, combining three of our current global offerings to leverage our deep expertise in RPO, Tapfin MSP, and Right Management. This is how we will continue to deliver new solutions and create added value that addresses our clients’ complex global workforce needs.”