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Weekly leading index moves lower

March 6, 2009

The growth rate for the Economic Cycle Research Institute's weekly leading index measuring the U.S. economy contracted 24.1% in the week ended Feb. 27; it had also contracted 24.1% in the prior period. The index level is now 105.2. "The [weekly leading index] has now slipped to another cycle low,...


TriNet to buy Gevity

March 5, 2009

TriNet Group Inc., a San Leandro CA-based professional employer organization, struck a deal to acquire Gevity HR Inc. (NASD: GVHR), a Bradenton FL-based professional employer organization. TriNet said it will pay $4 per share in cash for all outstanding Gevity shares, valuing the deal at $98 mill...


Jobless claims fall 4.6%

March 5, 2009

The number of U.S. initial claims for unemployment benefits fell 4.6% to 639,000 in the week ended Feb. 28 from the previous week's revised number of 670,000, the U.S. Department of Labor reported today. The four-week moving average of claims rose 0.3% to 641,750 from the previous week's revise...


Mastech revenue falls 10.4%

March 5, 2009

Mastech Holdings Inc. (AMEX: MHH), a Pittsburgh-based information technology staffing firm, reported a 10.4% year-over-year decline in fourth-quarter revenue to $23.1 million. The company cited tough economic conditions. "The recession has deepened during the fourth quarter, and broadened well be...


Michael Page revenue up 17% on two-sided year

March 5, 2009

Michael Page International PLC reported a 17.0% increase in full-year 2008 revenue to GBP972.8 million (US$1.41 billion). Chief Executive Steve Ingham described 2008 as a year with two distinct halves, "a strong first half being followed by a progressively weaker second half as the economic envir...


Michael Page revenue up 17% on two-sided year

March 5, 2009

Michael Page International PLC reported a 17.0% increase in full-year 2008 revenue to GBP972.8 million (US$1.41 billion). Chief Executive Steve Ingham described 2008 as a year with two distinct halves, "a strong first half being followed by a progressively weaker second half as the economic env...


Mastech revenue falls 10.4%

March 5, 2009

Mastech Holdings Inc. (AMEX: MHH), a Pittsburgh-based information technology staffing firm, reported a 10.4% year-over-year decline in fourth-quarter revenue to $23.1 million. The company cited tough economic conditions. "The recession has deepened during the fourth quarter, and broadened well...


Jobless claims fall 4.6%

March 5, 2009

The number of U.S. initial claims for unemployment benefits fell 4.6% to 639,000 in the week ended Feb. 28 from the previous week's revised number of 670,000, the U.S. Department of Labor reported today. The four-week moving average of claims rose 0.3% to 641,750 from the previous week's revised...


TriNet to buy Gevity

March 5, 2009

TriNet Group Inc., a San Leandro CA-based professional employer organization, struck a deal to acquire Gevity HR Inc. (NASD: GVHR), a Bradenton FL-based professional employer organization. TriNet said it will pay $4 per share in cash for all outstanding Gevity shares, valuing the deal at $98 mi...


USG People revenue falls 6%

March 4, 2009

USG People, an Almere, Netherlands-based staffing firm that operates in Europe, reported a 6% decline in fourth-quarter revenue to euro952.0 million (US$1.34 billion). Fourth-quarter gross margin narrowed to 25.3% from 25.9%. USG posted a fourth-quarter net loss of euro77.0 million (US$108.5 mill...