Corporate Resource Services Sees Federal Reserve Chair Yellen's Comments Pointing to Fertile Ground for Staffing

NEW YORK--()--Corporate Resource Services, Inc. (NASDAQ:CRRS), a diversified technology, staffing, recruiting, and consulting services firm, today commented on remarks made by Federal Reserve Chair Janet Yellen regarding the labor market. Dr. Yellen was speaking at the Kansas City Fed’s symposium at Jackson Hole, and her remarks depicted a labor market in which demand for staffing services is high.

During her speech, Dr. Yellen spoke about not only cyclical, but structural changes to the labor force that have impacted overall employment. “Some portion of the rise in involuntary part-time work may reflect structural rather than cyclical factors,” Yellen said. “For example, the ongoing shift in employment away from goods production and toward services, a sector which historically has used a greater portion of part-time workers, may be boosting the share of part-time jobs. Likewise, the continuing decline of middle-skill jobs, some of which could be replaced by part-time jobs, may raise the share of part-time jobs in overall employment.”

“These remarks are consistent with the trends we have been tracking in the marketplace,” said John P. Messina, Chief Executive Officer of CRS. “Demand from the service sector is high, and our clients continue to ask for specific skillsets that our recruiters are expert at identifying. We believe these trends are not just cyclical, but have become part of how businesses find qualified workers, and we expect these trends to continue.”

About Corporate Resource Services, Inc.:

Corporate Resource Services, Inc. provides cloud-based enterprise applications and hosting services to PEO and staffing companies, as well as diversified staffing, recruiting, and consulting services. The Company offers trained employees in the areas of Insurance, Information Technology, Accounting, Legal, Engineering, Science, Healthcare, Life Sciences, Creative Services, Hospitality, Retail, General Business and Light Industrial work. The company’s blended staffing solutions are tailored to our customers’ needs and can include customized employee pre-training and testing, on-site facilities management, vendor management, risk assessment and management, market analyses and productivity/occupational engineering studies.

The Company operates approximately 250 staffing and on-site facilities throughout the United States and the United Kingdom and it offers its services to a wide variety of clients in many industries, ranging from sole proprietorships to Fortune 1000 companies. To learn more, visit http://www.crsco.com

Forward Looking Statements:

Certain information contained in this press release, particularly information regarding completion of this offering, constitutes forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “comfortable with,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Contacts

Makovsky
John McInerney, 212-508-9628
Group Vice President

Contacts

Makovsky
John McInerney, 212-508-9628
Group Vice President