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Beige Book: Hiring plans remain soft

March 4, 2010

Hiring plans remained soft in most Federal Reserve Districts, but the pace of layoffs slowed, according to the latest Federal Reserve Beige Book report released Wednesday.

Staffing firms in the Boston district reported a strengthening in demand, particularly from the financial and manufacturing sectors....

Jobless claims fall by 29,000

March 4, 2010

The number of U.S. initial claims for unemployment insurance for the week ended Feb. 27 fell by 29,000, or 5.8%, to 469,000 from the previous week's revised number of 498,000.

The four-week moving average of claims for the week ended Feb. 27 fell by 3,500, or 0.7%, to 470,750 from the previous week's...

Sun's healthcare staffing revenue falls 20%

March 4, 2010

Sun Healthcare Group Inc. (NASD: SUNH) reported fourth-quarter revenue in its medical staffing services segment fell 19.4% to $23.6 million from fourth-quarter 2008 revenue of $29.2 million. Staffing revenue fell 1.3% sequentially from the third quarter.

Full-year 2009 staffing services revenue fell...

Former Monster exec gets probation

March 3, 2010

Former Monster Worldwide Inc. (NYSE: MWW) senior VP and General Counsel Myron Olesnyckyj on Tuesday was sentenced to one year probation for his role in a stock option backdating case, Reuters reported.

Olesnyckyj pleaded guilty to securities fraud in February 2007. And the U.S. Securities and Exchange...

Service sector's expansion pace quickens

March 3, 2010

Economic activity in the U.S. service sector increased in February at a faster rate than in January, according to the Institute for Supply Management's nonmanufacturing index released today.

The institute's nonmanufacturing index rose to a reading of 53.0 in February from 50.5 in January. Readings of...

Florida delays unemployment tax hike

March 3, 2010

Florida Gov. Charlie Crist signed legislation Tuesday delaying a major hike in state unemployment taxes. The Florida legislature had approved the delay (bill HB 7033) in its first day in session on Tuesday.

Under the proposed hikes, Florida's wage base on which unemployment taxes are charged would have...

Adecco North American revenue up sequentially

March 3, 2010

Adecco SA, the world's largest staffing firm, reported today that North American revenue fell 23% on a year-over-year basis (down 14% in constant currency), but rose 0.7% from the third quarter to end a string of sequential declines.

Adecco posted North American revenue of euro562.0 million (US$805.5...

People: Medical Connections, Analysts

March 3, 2010

Medical Connections Holdings Inc. (OTCBB: MCTH.OB) named Jeff Rosenfeld as its new chief operating officer. Rosenfeld's most recent role prior to coming to Medical Connections was as director of practice and business development at CBIZ. Prior to CBIZ, Rosenfeld had served as president of Medical Staffing...

Plains states post lowest 2009 jobless rates

March 3, 2010

North Dakota registered the lowest annual average unemployment rate among all states in 2009 at 4.3%, the U.S. Bureau of Labor Statistics reported today.

Nebraska posted the second-lowest at 4.6%. It was followed by South Dakota at 4.8%.

Still, annual average unemployment rates rose in all states in...

ADP: U.S. lost 20,000 private sector jobs

March 3, 2010

The U.S. lost an estimated 20,000 nonfarm, private sector jobs in February on a seasonally adjusted basis, according to Automatic Data Processing Inc.'s (NYSE: ADP) monthly employment report released today.

However, the report said its estimate of jobs lost likely will differ from numbers slated for...