ALISO VIEJO, Calif. -- Demand for temporary workers in the United States for the fourth quarter of 2004 is expected to rise 8.8% over the same period in 2003, according to the RemedyTemp Quarterly Labor Forecast, released today.
RemedyTemp announced the forecast in conjunction with its
"Companies are increasingly using our forecast as a business tool to assist in their human resources planning, since temporary staffing represents a key leading economic indicator of future business activity," said Greg Palmer, RemedyTemp's president and chief executive officer. "Currently, temporary jobs are being added at an increasing pace in smaller companies, as well as in a number of key industries. In particular, we are seeing the most robust growth in the accounting, construction, manufacturing, healthcare and government sectors."
The RemedyTemp Quarterly Labor Forecast, believed to be the only one of its kind, is in part based on Bureau of Labor statistics. The model was developed jointly by The A. Gary Anderson Center for Economic Research at Chapman University and RemedyTemp, Inc. (Nasdaq:REMX), a national temporary staffing company.
For the third quarter of 2004, the RemedyTemp Quarterly Labor Forecast predicted a 10.5% increase in demand for temporary labor over the same period last year. Palmer said that for the first two months of the third quarter, the increase was 9.0%, as reported last Friday by the Bureau of Labor Statistics.
RemedyTemp has been using the forecast internally to help navigate through the past several years of fluctuating economic conditions. In September 2003 the company first published the forecast for its clients, prospects and shareholders, announcing its release on the Labor Day Week Workforce 2004 Webcast. Palmer said RemedyTemp provides this data to assist companies in managing their workforce intelligently to better meet business demands.
About RemedyTemp, Inc.
RemedyTemp, with 235 offices throughout North America, is a professional staffing organization focused on delivering human capital workforce solutions in various business sectors. For additional information about RemedyTemp visit www.remedytemp.com.
This news release contains forward-looking statements that involve material risks and uncertainties with figures, in part, provided by the U.S. Bureau of Labor Statistics. Such forward-looking statements are subject to change based on factors beyond the control of the company. (Certain of such statements are identified by the use of words such as "anticipate," "believe," "estimate," "intend," "plan," "expect," "will," or "future".) Accordingly, the company's actual results may differ materially from those expressed or implied in any such forward-looking statements as a result of various factors, including, without limitation changes in general or local economic conditions that could impact the company's expected financial results, and other factors described in the company's filings with the Securities and Exchange Commission regarding risks affecting the company's financial condition and results of operations. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.