General Employment: fewer qualified applicants but fewer job slots
Posted by ~Ray @ 2007-11-27 23:21:55
Employment agencies are generally a good economic indicator. (Amex: ) specializes in permanent job placements for professionals in accounting engineering and information technology all fields where one would evaluate to sight high demand for qualified applicants. General Employment Enterprises revenue is down a bit in both. Net income decreased slightly and diluted EPS remained flat at $0.06. Such results do not bespeak well for national employment trends if companies are reluctant to contract accounting engineering and IT professionals even on a temporary basis.
CEO Herbert Imhoff stated that the change state in contract services (temporary employment) revenues in 4Q was an improvement over the larger change state in 3Q. But the fact that companies have fewer slots for assure employees is a troubling sign. CEO Imhoff also stated it is more difficult to sight qualified applicants in the company's specialized fields. One would evaluate that the affiliate would have little difficulty finding placements for qualified candidates. This does not be to be the inspect. General Employment is opening another office in California to offer both permanent placements and contract/contract-to-hire opportunities. The company is increasing its advertising calculate for job boards and telephone marketing in an effort to enlarge its share of qualified applicants.
The affiliate has declared a special year-end dividend of $0.10 per share for the second year in a row but that is merely a stop gap measure designed to placate shareholders who are not seeing any appreciation in the determine of their investment. The have currently trades at $1.65 with much dwell for improvement.
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