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Beige Book - Labor markets weaken

October 16, 2008

Staffing firms reported lower demand for their services in several Federal Reserve districts, according to the U.S. Federal Reserve's Beige Book report released Wednesday. Staffing firms in Richmond VA, Philadelphia and Chicago districts all cited lower demand, but Dallas district firms said dema...


CEO confidence unchanged in third quarter

October 16, 2008

The Conference Board's measure of CEO confidence was virtually unchanged in the third quarter from the second. Its third-quarter reading was up only one point to 40 from the second-quarter reading of 39. Readings of more than 50 points indicate more positive than negative responses in a survey of...


Adecco to make cuts in France

October 16, 2008

Adecco SA, the world's largest staffing firm, said today it informed French works councils that it plans to cut its headcount in France by up to 600 full-time equivalents in that country. French regulations require the company to consult with French work councils on the staff reductions, Adecco r...


Jobless claims down, weekly average up

October 16, 2008

The advance figure for seasonally adjusted initial unemployment claims was 461,000 for the week ended Oct. 11, down 16,000, or 3.4%, from the previous week's revised figure of 477,000, the U.S. Department of Labor reported today. The effects of hurricane Ike in Texas added approximately 12,000 cl...


Index finds staffing buyers paying faster

October 15, 2008

The speed at which buyers of staffing services pay staffing firms quickened in September, according to the Capital TempFunds credit index. The index rose five points in September to a reading of 105 — the same reading as in September 2007 and September 2006. Data for the index comes from Capital...


SeatonCorp posts 6% revenue growth

October 15, 2008

SeatonCorp, a Chicago-based staffing and recruiting firm, said its third-quarter revenue rose 6% year over year on an organic basis, although it did not release revenue figures. Growth at the company's PeopleScout division, which provides recruitment process outsourcing services, increased throug...


Research from Staffing Industry Analysts

October 15, 2008

Here is the latest research from Staffing Industry Analysts. CITATION - The staffing industry in protected employment economies *Comparative study of temp regulation in Germany, Japan and Netherlands *Long history of opposition to liberalization of labor markets*Acceptance of temporary labor ulti...


Radia cutting workers, revenue estimate

October 15, 2008

Tokyo-based Radia Holdings Inc. said it would reduce internal staff by 20% as part of a business restructuring and lowered its estimated revenue for its fiscal year ending June 30, 2009. The company, which provides staffing and other services, said revenue for the current fiscal year is now expec...


MPS lowers third-quarter revenue estimate

October 15, 2008

MPS Group Inc. (NYSE: MPS) cut its revenue estimate. The Jacksonville FL-based professional staffing firm said it will report third-quarter revenue of between $575 million to $580 million, compared with an earlier estimate of between $580 million and $600 million. MPS said its Badenoch & Clark di...


Korn/Ferry buys executive coaching firm

October 15, 2008

Korn/Ferry International Inc. (NYSE: KFY) agreed to acquire Lore International Institute Inc., a provider of executive coaching and leadership development services that has offices in Durango CO and Zurich, Switzerland. Terms were not disclosed. The deal is set to close in 30 days and add to Korn...