Statement by Tig Gilliam, CEO of Adecco Group North America, on October's Bureau of Labor Statistics Jobs Report

November 6, 2009

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