Moderate Job Creation of Longer Duration Ahead - Kelly Services Advance Comment on Unemployment Rate Announcement
07 Gennaio 2004 - 4:34PM
PR Newswire (US)
Moderate Job Creation of Longer Duration Ahead - Kelly Services
Advance Comment on Unemployment Rate Announcement TROY, Mich., Jan.
7 /PRNewswire-FirstCall/ -- The following commentary by Carl
Camden, president of global staffing company Kelly Services, Inc.,
is offered in advance of the December unemployment rate
announcement due Friday from the U.S. Department of Labor. The
November unemployment rate was 5.9 percent, and the economy gained
a reported 57,000 jobs that month. (Logo:
http://www.newscom.com/cgi-bin/prnh/19991208/KELLYLOGO ) "Recent
employment numbers suggest that we have entered a sustained period
of job growth. Job creation numbers in the coming months probably
won't light up the scoreboard as intensely as in past recoveries,
though. Instead, we expect to see moderate, steady gains of a
longer duration than previous rebounds. This sturdier footing in
job creation will help reduce the threat of inflation. "The average
work week steadily lengthened during 2003, with companies getting
more productivity out of fewer workers. Alongside this trend, we
saw a steady increase in the number of hours per job assignment at
Kelly Services. These trends inevitably lead to new periods of job
creation, which we are seeing now, where the dam is breaking and
companies need to hire more workers to keep up with orders for
their goods and services. "We shouldn't put too much weight into
the monthly fluctuation of the unemployment rate itself,
particularly at this time of year, which is a noisy period for job
data, given holiday hiring and other seasonal adjustments. In fact,
the unemployment rate may actually rise during this early stage of
job- creation as the amount of available jobs will lag the number
of newly encouraged people reentering the job market. The
unemployment rate has become more of a psychological number that is
less meaningful than trends in job creation. "Light industrial
staffing has historically been at the front of the economic
recovery parade, and this segment continues to show some
improvement for us. We also are now seeing growing strength in
office and clerical staffing and among our professional and
technical staffing services." About Kelly Services Kelly Services,
Inc. (NASDAQ:KELYANASDAQ:KELYB) is a Fortune 500 company
headquartered in Troy, Mich., offering human resources solutions
that include temporary services, staff leasing, outsourcing, vendor
on-site and full-time placement. With more than 2,400 company owned
and operated offices in 26 countries, Kelly provides to its
customers nearly 700,000 employees annually, with skills including
office services, accounting, engineering, information technology,
law, science, marketing, light industrial, education, health care
and home care. Sales in 2002 were $4.1 billion. Visit
http://www.kellyservices.com/ .
http://www.newscom.com/cgi-bin/prnh/19991208/KELLYLOGO DATASOURCE:
Kelly Services, Inc. CONTACT: Bob Doetsch of Kelly Services,
+1-248-244-5362 Web site: http://www.kellyservices.com/
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