Shares of staffing companies traded mixed on Thursday, after Monster Worldwide Inc. said its January employment index declined and the Labor Department reported a rise in jobless claims.
Monster, which operates job Web site Monster.com, said its January employment index showed a decline in online recruitment among employers, with particular weakness in finance and insurance occupations.
Stifel Nicolaus analyst James J. Janesky said employment data has been mixed recently but said Monster's employment index is a good indicator of the labor market's health because it offers "real-time" information on online job availability.
"In our opinion, widespread weakness across most geographies, industries and occupations is indicative of further deterioration," Janesky wrote in a client note.
Meanwhile, the government reported that the number of laid-off workers filing applications for unemployment benefits soared by 69,000 to 375,000, more than triple what economists expected. The jump was the highest level for jobless claims since the week of Oct. 8, 2005, following disruptions caused by Hurricane Katrina and other Gulf Coast hurricanes.
Up next is the January unemployment figure, scheduled for release Friday. The unemployment rate rose sharply in December, rising to 5 percent from 4.7 percent in November.
Here's how some staffing stocks performed in Thursday's session:
Manpower Inc. rose 3 cents to $55.80.
Robert Half International Inc. shares shed 20 cents to $27.78.
Monster Worldwide Inc. declined 76 cents to $27.85.
Korn Ferry International rose 48 cents, or 3.1 percent, to $16.09.
Resources Connection Inc. rose 61 cents, to 3 percent, to $20.85.
Kelly Services lost 8 cents to $17.28.
TrueBlue Inc. shed 66 cents or 4.4 percent, to $14.27.
51job Inc. declined 59 cents, or 3.2 percent, to $17.78.
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