Surge in Job Creation Underway - Kelly Services Advance Comment on Unemployment Rate Announcement
TROY, Mich., June 2 -- The following commentary by Carl Camden, president of global staffing company Kelly Services, Inc., is offered in advance of the May unemployment rate announcement due Friday from the U.S. Department of Labor. In April, the unemployment rate fell to 5.6 percent, and the economy gained a reported 288,000 jobs.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991208/KELLYLOGO )
"Springtime was strong for the job market, and we expect employment to keep heating up in the summer ahead. We are seeing the beginning of a great surge in job creation. Propelling these gains are the accumulated effect of tax cuts, government spending, productivity gains and the pent-up demand for labor over the last year.
"We are seeing solid job creation across the employment spectrum, with the services sector leading the way. Midwestern states that are oriented toward heavy manufacturing and which have lagged the full recovery are starting to catch up.
"During an economic recovery, any single month's job data can show volatility, either with unexpected slackening or extraordinary surges. Government employment reports show considerable volatility, with frequent and significant revisions to previous months' job data. The trend in job creation over several months provides a more meaningful gauge on the direction of employment than any single month's data, and a view of recent months shows us in solid job creation mode."
About Kelly Services
Kelly Services, Inc. (Nasdaq: KELYA, KELYB) is a Fortune 500 company headquartered in Troy, Mich., offering staffing solutions that include temporary services, staff leasing, outsourcing, vendor on-site and full-time placement. Kelly serves 200,000 customers through 2,500 company owned and operated offices in 26 countries. Kelly provides employment for nearly 700,000 employees annually, with skills including office services, accounting, engineering, information technology, law, science, marketing, light industrial, education, health care and home care. Revenue in 2003 was $4.3 billion. Visit http://www.kellyservices.com .
SOURCE Kelly Services, Inc.
NOTE TO EDITORS: Carl Camden is available for media interviews through
the contact information below.
CONTACT: Bob Doetsch of Kelly Services, +1-248-244-5362
Web site: http://www.kellyservices.com
(KELYA KELYB)