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Switzerland — S&P lowers Adecco's credit rating to BBB-

19 January 2010

Credit rating agency Standard & Poor's has reduced the rating of staffing group Adecco SA to BBB- from the previous BBB. The lower rating is due to possible negative effects of Adecco's acquisition of MPS Group for a net cash consideration of 782 million Euro. At the same time, the A-3 short-t...


Europe — Economists predict a jobless recovery

18 January 2010

  Europe may return to modest growth in 2010 but economists are warning that unemployment will remain high amid fears that the recovery will be painfully weak. At a conference in Brussels, analysts forecast another tough year ahead, adding that the risk of a W-style or 'double dip' recovery cou...


Portugal — Income for young people falls faster than inflation

18 January 2010

  The latest figures from the National Statistics Institute (INE) reveal that wages for the 25 to 34 year olds have fallen by -2.8% in the third quarter of 2009 when compared to the same period in 2008. Whilst inflation has also fallen by -0.3% during the same period, the purchasing power of yo...


Germany — Top manager distances herself from artificial in-house temporary employment agencies

18 January 2010

  Ingrid Hofmann, Managing Director of Germany's tenth largest temporary employment group, I.K. Hofmann, has openly criticised the behaviour of drugstore chain Schlecker in terms of their abuse of temporary employment law. This is the first public comment on this issue from a leading manager in...


Portugal — Income for young people falls faster than inflation

18 January 2010

The latest figures from the National Statistics Institute (INE) reveal that wages for the 25 to 34 year olds have fallen by -2.8% in the third quarter of 2009 when compared to the same period in 2008. Whilst inflation has also fallen by -0.3% during the same period, the purchasing power of young...


Europe — Economists predict a jobless recovery

18 January 2010

Europe may return to modest growth in 2010 but economists are warning that unemployment will remain high amid fears that the recovery will be painfully weak. At a conference in Brussels, analysts forecast another tough year ahead, adding that the risk of a W-style or 'double dip' recovery could...


Germany — Top manager distances herself from artificial in-house temporary employment agencies

18 January 2010

Ingrid Hofmann, Managing Director of Germany's tenth largest temporary employment group, I.K. Hofmann, has openly criticised the behaviour of drugstore chain Schlecker in terms of their abuse of temporary employment law. This is the first public comment on this issue from a leading manager in the...


Spain — Employment fell by -5% year-on-year in December

18 January 2010

The latest labour market monitor published by The Association of Large Temporary Employment Agencies (Agett) estimates that employment in Spain has fallen by -5% year-on-year in December 2009. There are therefore 18.67 million employed people in Spain, the same level as in 2009. The association...


UK — Pinnacle strategic review includes offers for the company

18 January 2010

  Pinnacle Staffing Group Plc (PCL:LSE), the suppliers of medical and care staff, has made a statement on its current strategic review of the business. The company said: "The Board of Pinnacle Staffing Group notes the recent movement in the company's share price and wishes to inform the market...


Spain — Employment fell by -5% year-on-year in December

18 January 2010

  The latest labour market monitor published by The Association of Large Temporary Employment Agencies (Agett) estimates that employment in Spain has fallen by -5% year-on-year in December 2009. There are therefore 18.67 million employed people in Spain, the same level as in 2009. The associati...