Press Release
Temp staffing companies see gain in stock prices
 
   

Bloomberg news reports a substantial jump in stock prices in the largest staffing companies since the year to date lows reported March 12th of this year

Temporary Employment Stocks
Company /March 11/....July 12/ ..Pct. Chg
Adecco/..... $27.03 /..$44.94/ ....66.3%
Manpower/ .$27.50/...$36.55/.... 32.9%
Vedior/....... $ 3.48/....$9.58/... 175.3%
Kelly Srvcs/.$19.77/.. $25.50/.... 29.0%
Korn/Ferry/ $ 6.20/... $9.38/..... 51.3%
Robert Half/$11.74/.. .$21.00/.... 78.9%
Administaff/.$ 6.09/... $11.59/.... 90.3%

 
   

In the U.S., the Labor Department reported that after holding almost unchanged for a year, the number of temporary workers jumped by 44,000 in May and 38,000 in June. In those two months, total payrolls shed 100,000 jobs and unemployment rose to 6.4 percent in June, the highest in nine years.

``Temporary staffing always leads the recovery,'' said James J. Janesky, a stock analyst with Janney Montgomery Scott LLC in Philadelphia, who tracks equity prices of temporary labor companies. As employment of temps rises, he said in an interview, ``the market's going to take that as a positive sign"

"Investors have been betting that the world's biggest suppliers of temporary employees will be the first to benefit from rising economic activity.