Statement by Tig Gilliam, CEO of Adecco Group North America, on October's
Bureau of Labor Statistics Jobs Report
MELVILLE, N.Y., Nov. 6 /PRNewswire/ -- The following is a statement by Tig
Gilliam, CEO of Adecco Group North America, on October's Bureau of Labor
Statistics jobs report which was released today at 8:30 AM ET.
"Today's jobs report is a further step toward the gradual improvement in US
labor market trends. A primary example of this can be found in the temporary
job market which has historically been a leading employment indicator. For the
first time since late 2006, the US labor market created a significant number
of temporary jobs in October, increasing by 33,700 positions.
"Past economic recoveries have shown that the unemployment rate is a lagging
economic indicator and as such, October's unemployment rate rose to 10.2%.
Despite this, the monthly rate of total job losses declined month over month -
a promising trend which suggests that we could reach zero net job losses by
the end of 2009. Just as there are signs that the job market is improving,
we're beginning to see the broader economy showing similar signs of recovery -
GDP grew in the third quarter; factory goods orders were better then expected
in September; retailers are expressing some confidence around the holiday
shopping season.
"These broader economic and early job market trends are crucially important to
improving consumer confidence which will in turn influence employer confidence
to increase hiring. Across the Adecco Group portfolio of companies we are
seeing these early recovery trends take form and our clients are expressing
more confidence in where the job market and economy are headed. In fact,
right now we're recruiting to fill over 1,000 finance/accounting positions,
1,300 more engineering and technical jobs and an additional 700 IT positions -
strong examples that job opportunities exist even in this still challenging
labor market.
"At Adecco Group, we are actively discussing workforce solutions and staffing
needs for 2010 with our 100,000 clients around the world. What's clear from
these conversations is that employers are focused on learning from the lessons
of this recession, and now more than ever, they are embracing strategies to
achieve workforce optimization and increased flexibility. We're being
consulted to develop solutions for questions like how can I have an on-demand
workforce that expands and contracts more easily, based on my business needs?
How can I improve productivity while keeping the employees I currently have
from being overworked and overstressed?
"These approaches represent a significant improvement in employer confidence
and it marks a real shift from where we were just a few months ago when
clients were asking, how can we effectively reduce our headcount? This shift
in perspective suggests that we can expect these early improving job trends to
continue. While employers remain cautious, they are certainly more optimistic
compared to six months ago. These are all encouraging signs, and it's
important to keep in mind that thriving in an economic upturn will require the
same foresight and agility as did surviving the recession - a critical
challenge for employers now and in the coming months."
SOURCE Adecco Group North America
Anthony Guerrieri, Director, Public Relations of Adecco Group North America,
+1-917-434-4296, anthony.guerrieri@adeccona.com
