New Labor Forecast Predicts Strong Jump in Demand for Temporary Workers in 2004 First Quarter;...

Business Editors

ALISO VIEJO, Calif.--(BUSINESS WIRE)--Jan. 6, 2004

Demand for temporary workers in the United States for the first quarter of 2004 is expected to jump about 6.8% over the same period in 2003, according to the RemedyTemp Quarterly Labor Forecast, released today.

"We believe this could be good news for all businesses, because an increase in temporary hiring historically has signaled that an increase in regular, full-time hiring is approximately six to nine months away," said Greg Palmer, RemedyTemp's president and chief executive officer. "So we all are hopeful that the term 'jobless' soon will be dropped when describing the economic recovery."

The forecast, believed to be the only one of its kind, is in part based on Bureau of Labor statistics and 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.

"Over the last 15 years, except for 1993, Chapman University has accurately called the direction of change in job growth," said James L. Doti, Ph.D., president and Donald Bren, distinguished chair of Business and Economics, Chapman University.

For the fourth quarter of 2003, the RemedyTemp Quarterly Labor Forecast predicted a 1.8% increase in demand for temporary labor over the same period last year. Palmer said that while it accurately called the direction of change, the forecast was off in magnitude, with the actual increase thus far into the quarter trending up over 5%. "Our Labor Forecast generally looks at companies employing more than 100 employees. The surprise in Q4, 2003 has been the continuing rise in productivity, the strong job growth in companies with 10 to 100 employees, and the continuing growth in the health care, accounting, technical support and security service sectors," Palmer said.

RemedyTemp has been using the Labor Forecast to help navigate through the past several years of fluctuating economic conditions. In September 2003 RemedyTemp published the Labor Forecast for its clients, prospects and shareholders, announcing its release on the Labor Day Week Workforce 2004 Webcast, hosted by RemedyTemp. Palmer said it is RemedyTemp's desire to provide this sophisticated forecast vehicle which is intended to assist other companies in managing their workforce intelligently to meet business demands.

The next RemedyTemp Quarterly Labor Forecast will be published in March 2004. For more information about RemedyTemp visit www.remedytemp.com.

About RemedyTemp

RemedyTemp, with 238 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," "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.