ALISO VIEJO, Calif. -- Demand for temporary workers in the United States for the fourth quarter of 2005 is expected to climb three percent over the same period in 2004, according to the RemedyTemp Quarterly Labor Forecast, released today.
"Due to a period of more modest economic
For the third quarter of 2005, the RemedyTemp Quarterly Labor Forecast predicted a 6.9 percent increase in demand for temporary labor over the same period in 2004. While the forecast accurately called the direction of change, preliminary figures reported by the Bureau of Labor Statistics indicate that the third quarter increase will likely be in the five percent range due to a greater than expected softening of national economic growth. There was a decline in light industrial manufacturing offset somewhat by gains in construction, clerical, healthcare and demand for full-time workers.
The RemedyTemp Quarterly Labor Forecast, believed to be the only one of its kind, is based, in part, on Bureau of Labor Statistics and other key indicators. 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. It is tracked quarterly and serves as an indicator of economic activity.
RemedyTemp has been using the Labor Forecast to help navigate through fluctuating economic conditions. Palmer said RemedyTemp provides this sophisticated forecast vehicle to assist other companies in managing their workforce intelligently to meet business demands.
About RemedyTemp
RemedyTemp, with 236 offices throughout North America, is a professional staffing organization focused on delivering human capital workforce solutions in various business sectors. The company operates as Remedy Intelligent Staffing(R), RemX(R) Financial Staffing and RemX(R) IT Staffing. For additional information, 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," "expect," "future," "intend," "plan," "predict," or "will," or words or similar import). 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.