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

Business Wire, Oct 5, 2007

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

"The unemployment rate has remained very close to 4.5% for well over a year, and although today's report shows that it has slightly risen to 4.7% in September, this is positively offset by the fact that the labor market is continuing to add jobs, with this month's sizable increase to payrolls of 110,000 jobs. Further, if you look at the U.S. job market vs. other countries, we still have one of the strongest labor markets compared to Germany's unemployment rate at 8.4% and Italy's at 5.7%. We can't lose sight of the bigger global picture.

In September alone Adecco Group filled approximately 175,000 positions. We're seeing continued strength in the labor market throughout our network of over 150,000 client companies, with the strongest demand coming from health care, technology, and finance/accounting where the talent war is in full swing. Today's report reaffirms that these skills are in high demand with the professional and technical services industry adding another 37,000 new jobs in September.

Further, although this month's report shows continued weakness in the broad temporary staffing market, well-run companies are still consistently using contingent workforce solutions to deliver much needed flexibility.

For instance, an Adecco financial services client has added 400 call center specialists for the fourth quarter in order to take advantage of a holiday season market opportunity, while simultaneously reducing resources assigned to mortgage processing. This workforce flexibility in the face of market changes is exactly what helps well-run companies continue to deliver profit growth.

Now is a time for American workers to assess their career objectives and ensure they are in the best position, industry and company for continued growth. At Adecco, we help over 700,000 people find work every day and are fully committed to providing our candidates with career counseling and advice to help make these career transitions in response to market shifts.

As an example, we recently held a job fair for employees located near our headquarters in New York who were affected by the downturn in the mortgage industry. In this one instance, Adecco helped hundreds of local professionals explore opportunities in other fields and industries where their talent and skills are greatly needed right now."