The earnings growth of these US Employment Services Corps has absolutely skyrocketed under the Obama Administration.
For the most recent fiscal year 2011, these 11 US Employment Services Corps registered Total Pretax Income of $1.3 bil, which was an increase of an incredibly strong 97% over 2010, and an increase of an off-the-charts 441% over 2009.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Asset Impairment Charges.
Clearly, the Obama Administration has created a US economic environment which has permitted these US Employment Services Corps to flat out flourish.
While US private sector job creation is up very nicely and continually in the past two years of the Obama Administration, there still needs to be a lot more done. I think the country should think big and set a goal of bringing down the unemployment rate to 5% as quickly as possible. And this 5% goal should be only full-time, livable wage jobs.
But the Republicans in the US Congress are intent on wrecking the US economy, at least until the November 2012 election, because they think that this selfish strategy will remove President Obama and as many Democrats in the US Congress as possible from office.
And frankly, there is something wrong with the US economy when these US Employment Services Corps can generate earnings growth of a massive 441% in the most recent two years, while at the same time, they are deriving these profits from the work done by the 99%, who are still suffering severely from the tepid US economy.
There has to be a fairer sharing of the fruits of the US economy. The US Employment Services Corps are disproportionately receiving the economic benefits. The people they get hired on frequently a temporary basis are clearly being shortchanged economically.
And all US Big Corps should reverse their greedy policy of using so many temporary, part-time, and independent contractor workers. It is an outrage.....clearly an unpatriotic "Profits over People" strategy.
Below here is the Pretax Income and Pretax Losses of these 11 US Employment Services Corps for each of the most recent three years.
| Obama | |||||
| Bump | |||||
| PTI | PTI | ||||
| 1 Year | 2 Year | ||||
| PTI(L) | PTI(L) | PTI(L) | % | % | |
| 2011 | 2010 | 2009 | Change | Change | |
| mils $s | mils $s | mils $s | |||
| Employment Services | |||||
| Manpower | 480 | 264 | 38 | 82% | 1163% |
| Robert Half | 250 | 115 | 67 | 117% | 273% |
| Team Health | 115 | 107 | 92 | 7% | 25% |
| Teletech Holdings | 92 | 82 | 103 | 12% | -11% |
| Korn Ferry | 90 | 5 | (12) | 1700% | 850% |
| Kelly Services | 58 | 33 | (95) | 76% | 161% |
| Monster WW | 56 | (44) | (22) | 227% | 355% |
| Insperity | 51 | 38 | 29 | 34% | 76% |
| True Blue | 49 | 29 | 14 | 69% | 250% |
| K Force | 43 | 33 | 22 | 30% | 95% |
| On Assignment | 41 | 10 | 9 | 310% | 356% |
| Total all 11 | 1,325 | 672 | 245 | 97% | 441% |
