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

Business Wire, Dec 7, 2007

MELVILLE, N.Y. -- The following is a statement by Tig Gilliam, CEO of Adecco North America, on November's Bureau of Labor Statistics jobs report which was released today at 8:30 AM ET.

"The job market continues to be the silver lining on the dark cloud that has crowded our economic forecast the past two months. The unemployment rate reported at 4.7 percent today, telling us there is an underlying strength to our economy -- the labor market.

The U.S. was able to create new jobs despite the wave of economic woes such as the Consumer Confidence Index dropping for the fourth month in a row, rising energy prices, holiday shoppers spending less this year and the ever-growing mortgage crisis. The Bureau of Labor Statistics reported the addition of 94,000 new jobs to U.S. non-farm payrolls in November.

We see continued relative strength in the professional skills categories - healthcare, IT, engineering and science, finance and legal. For workers with strong professional skills, the job market is holding up very well. For instance, our recruiters have been doing a fantastic job of helping people from the mortgage industry translate their skills into new positions in finance and related industries.

On the other hand, the residential construction, manufacturing and mortgage-related financial services sectors continue to struggle.

With continued layoffs, albeit at a lower total level than last year, our Lee Hecht Harrison business, which provides career transition and leadership consulting services, has seen an increase in demand for its services, especially in the Midwest and Northeast."