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Beige Book reports broad-based hiring, varied outlook for staffing firms

March 5, 2015

Payrolls remained stable or expanded across the districts during the period of early January through mid-February, and employment gains were noted in a broad range of sectors, according to the Federal Reserve’s Beige Book report released Wednesday. Wage pressures remained moderate and were limite...


Jobless claims average rises, total claims at nine-month high

March 5, 2015

The US four-week moving average of initial claims for unemployment insurance last week rose by 10,250 to a total of 304,750 from the previous week’s unrevised average of 294,500, according to seasonally adjusted numbers released today by the US Department of Labor.The four-week moving average dec...


CDI revenue falls 4% in Q4, posts net loss

March 4, 2015

Fourth-quarter revenue fell 3.8% at CDI Corp. (NYSE: CDI) to $266.7 million. And the Philadelphia-based staffing provider announced a net loss of $8.9 million in the fourth quarter compared to net income of $2.3 million in the year-ago quarter.CDI reported $14.7 million in impairment charges in t...


Sterling Bancorp acquires payroll funding provider Damian

March 4, 2015

Sterling Bancorp (NYSE: STL), through its principal subsidiary Sterling National Bank, acquired Damian Services Corporation, a privately held provider of payroll funding and other services to the staffing industry.The transaction closed Feb. 27; terms of the transaction were not disclosed. Damian...


TriNet Q4 revenue up 25% in total, net service revenue up 4%

March 4, 2015

Fourth-quarter revenue rose 25.3% at professional employer organization TriNet Group Inc. (NYSE: TNET) to $603.7 million.The San Leandro, Calif.-based firm also reports revenue on a “net service revenue” basis which represents professional service revenue and net insurance revenue (insurance serv...


Canadian GDP up 0.6% in Q4

March 4, 2015

Canadian real gross domestic product rose 0.6% in the fourth quarter following a gain of 0.8% in the third quarter, Statistics Canada reported.Oil and gas extraction and the finance and insurance sector were the main contributors to growth in the fourth quarter. The public sector posted a notable...


Industrial staffing firm Command Center reports revenue down 2% in Q4

March 4, 2015

Command Center Inc. (OTC: CCNI) reported revenue fell 2.5% in the fourth quarter to $24.0 million. The company attributed the decline to its transition and focus on higher margin, higher quality customer engagements. Fourth-quarter gross margin improved at the Coeur d’Alene, Idaho-based industria...


Technical staffing provider sells to employee stock ownership plan

March 4, 2015

Sterling Engineering, an engineering support services and technical staffing firm headquartered in Westchester, Ill., transitioned to an employee stock ownership plan in December, announced CSG Partners, a New York-based investment bank that advised the firm.An ESOP is a retirement benefit that e...


US gains 212,000 jobs in February, growth pace slows

March 4, 2015

US private sector employment rose by approximately 212,000 jobs in February when compared to January, according to the ADP national employment report produced by Automatic Data Processing Inc. (NASD: ADP) in collaboration with Moody’s Analytics.Small businesses added 94,000 jobs in February, acco...


US non-manufacturing economic index shows acceleration in February

March 4, 2015

Economic activity in the US non-manufacturing sector expanded at a slightly faster pace in February while employment growth accelerated, according to the Institute for Supply Management’s non-manufacturing index released today.ISM’s non-manufacturing index edged up in February to a reading of 56....