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— Industry Consulting Firm G. Palmer & Associates’ Quarterly Forecast



Assists in Previewing Near-Term Hiring Patterns —

NEWPORT BEACH, Calif., Jan. 14, 2021 (GLOBE NEWSWIRE) — Demand for temporary workers in the United States is expected to decrease 8.6% on a seasonally adjusted basis for the 2021 first quarter, when compared with the same period in 2020, according to the Palmer Forecast™, released today.

The Palmer Forecast™ indicated a 15.1% decrease in temporary help for the 2020 fourth quarter. Actual results as reported by the Bureau of Labor Statistics (BLS) came in significantly better, with a decline of only 9.5%, largely reflecting lower unemployment rates and faster jobs growth in the professional and business services, retail, construction and manufacturing sectors. Temp help increased by 67,100 jobs in December vs. November, but it was still down 7.6% from a year earlier.

According to the BLS, 279,000 temp jobs were lost in 2020, the second straight year of declines, an average job loss of 23,250 per month. The BLS also reported that 42,000 temp help jobs were lost in 2019, an average of 3,500 fewer jobs per month. In 2018, more than 99,000 temp help jobs were added vs. 2017, an average of 8,200 per month. Additionally, 96,000 temp jobs were added in 2017 over 2016, an average of 8,000 per month, compared with 32,000 temp jobs added in 2016, or an average of 2,600 per month. In 2015, approximately 97,000 temporary jobs were added, compared with 162,000 new temp jobs in 2014, 139,000 in 2013 and 142,000 in 2012.

The Labor Department reported that total nonfarm payroll employment declined by 140,000 in December 2020 vs. a consensus estimate decrease of 100,000 jobs. For the fourth quarter 2020, the nonfarm jobs average decreased to 283,000, compared with 567,000 in November. For 2020, nonfarm employment was down 6.17%, or 9,372,000 jobs, compared with 2019. To put this in perspective, there were 176,000 jobs added on average per month in 2019 and 2.1 million total jobs added for the year, which was less than the 220,000 added per month in 2018, and 2.6 million total for that year. For 2017, a total of 2.1 million new jobs were created, versus 2.2 million new jobs in 2016.

The key categories of jobs created are as follows:

• Total Non-farm jobs: -140,000
• Hospitality and leisure: -498,000
• Retail: +121,000
• Education and Health Services: +39,000
• Professional and business services: +161,000
• Manufacturing: +38,000
• Construction: +51,000
• Temp Help: +67,100
• Government sector: -45,000
  

In December 2020, the labor participation rate was 61.5%, unchanged from November. The U3, commonly referred to as the unemployment rate, also remained the same at 6.7% for both December and November 2020.

As reported by the BLS, the rate of unemployment for workers with college degrees ticked down 40 bps in December vs. November, to 3.8%, and the unemployment rate for workers with less than a high school education increased 60 bps to 9.8%. The U6 unemployment rate, which tracks those who are unemployed, as well as those who are underemployed and are working part-time for economic reasons, was down 30 bps to 11.7% in December vs. November. The U6 rate is considered the rate that most broadly depicts those most affected by the last economic downturn and measures the rate of discouraged workers.

“One of the most revealing indicators to watch is the temp help penetration rate, because it measures temp help as a percentage of total employment. In December 2020, the temp penetration rate increased by 20 bps from November to 1.91% of the total labor market, versus a low of 1.3% in June 2009, and this cycle’s peak at 2.05% in December 2019,” said Greg Palmer, founder and managing director of G. Palmer & Associates, an Orange County, California-based human capital advisory firm that specializes in workforce solutions.

The next few quarters

“The temp help employment market improved significantly in December, as compared with the more modest gains realized during the summer,” Palmer added. “The uncertainty of both the second round of stimulus dollars for unemployment benefits, as well as additional bail-out for businesses impacted by COVID-19 make the flexibility to hire temp help more attractive during uncertain times. The American Staffing Association Staffing Index is rebounding from an index low of 59.9 on May 10, 2020 to a strong close of 88.9 on December 27, 2020, but representing a 2.5% decline vs. the same period in 2019. This provides further signs of recovery in temp help as we move into the new year.”   

About the Palmer Forecast™

The Palmer Forecast™ is based, in part, on BLS and other key indicators. The model was initially developed by the A. Gary Anderson Center for Economic Research at Chapman University and serves as an indicator of economic activity. Companies that employ temporary staff use the forecast as a guide to navigate through fluctuating economic conditions in managing their workforce to meet business demands.

About G. Palmer & Associates

G. Palmer & Associates, founded in 2006, provides advisory services in the human capital sector. Founder Greg Palmer has served on the board of the American Staffing Association and was president and chief executive officer of RemedyTemp, Inc., one of the nation’s largest temporary staffing companies, prior to its sale in June 2006. For more information, visit www.GPalmerandAssociates.com.

Contact:

Roger S. Pondel/Judy Lin Sfetcu PondelWilkinson Inc. 310.279.5980

Philip Boronow, Analyst G. Palmer & Associates 949.201.7296 www.GPalmerandAssociates.com

 

SAN JOSE, Calif., Jan. 14, 2021 (GLOBE NEWSWIRE) — Xactly, the leading innovator of cloud-based Sales Performance Management (SPM) software, today announced that the company was named a 2021 Best Workplaces in the Bay Area™ by Fortune and Great Place to Work^®. The ranking considered more than 44,000 employee surveys from Bay Area companies and evaluated more than 60 workplace elements including the extent to which employees trust leaders, the respect with which people are treated, the fairness of workplace decisions and how much camaraderie there is among the team.

“At Xactly, everything we do comes back to the goal of inspiring people to succeed at work. We’re dedicated to cultivating workplace cultures that support the growth and passion of employees—our technology enables that for our customers, and our culture of inclusivity fosters that internally, for our own team,” said Leanne Bernhardt, CHRO at Xactly. “I am constantly in awe of the resilience exhibited by Xactilians and their steadfast commitment to our company and its mission. We are proud to be honored among other top-notch companies in the Bay Area, and the recognition is all the more meaningful knowing it was driven by positive feedback from our employees.”

Xactly has been honored over 20 times for its culture, including seven Great Place to Work-Certified™ wins, seven Bay Area News Group Top Workplaces awards and two listings as a Top Workplace in Colorado by The Denver Post. This continued recognition is a testament to Xactly’s supportive, respectful culture centered around high employee engagement and community service. Even as the company adjusted to remote work in 2020, this focus never waivered. In April, as part of the company’s third-annual, and first virtual, C.A.R.E. Week, employees fundraised for Doctors Without Borders and Black Girls Code, and created KyndKits, which provides essential supplies to members of their communities.

“Talented people in the Bay Area want to work for organizations where they can be part of something innovative and impactful,” said Michael C. Bush, CEO of Great Place to Work. “Organizations like Xactly are attracting these candidates because of their great workplace culture where employees feel like their job is meaningful and that they can maximize their human potential.”

The Best Workplaces in the Bay Area is one of a series of rankings by Great Place to Work and Fortune based on employee feedback from Great Place to Work-Certified™ organizations. To learn more about Xactly, its products and offerings, or if you are looking to join the company’s expanding team, please visit xactlycorp.com.

About Xactly

Xactly is leading the way in Sales Performance Management (SPM) delivering planning, execution, and optimization to ambitious and complex sales organizations. We partner with the world’s leading enterprises to clear immediate sales roadblocks, enabling them to adapt with optimal sales capacity, territories, compensation plans, and payment structures. Harnessing the power of AI, Xactly’s scalable, cloud-based platform combines great software with the industry’s most comprehensive 15-year data set to give customers the real-world insights they need to improve sales performance across the board by growing revenue, reducing risk and containing costs.

To learn more about Xactly and the latest issues and trends in SPM software, follow us on Twitter, Facebook, and subscribe to the Xactly blog.

©2021 Xactly Corporation. All rights reserved. Xactly, the Xactly logo, and “Inspire Performance” are registered trademarks or trademarks of Xactly Corporation in the United States and/or other countries. All other trademarks are the property of their respective owners.

About the Best Workplaces in the Bay Area™

Great Place to Work based its ranking on a data-driven methodology applied to confidential Trust Index™ survey responses from more than 44,000 Bay Area employees at Great Place to Work-Certified^™ organizations.

Employees responded to over 60 survey questions describing the extent to which their organization creates a Great Place to Work For All™. Eighty-five percent of the evaluation is based on what employees say about their experiences of trust and reaching their full human potential as part of their organization, no matter who they are or what they do. Great Place to Work analyzes these experiences relative to each organization’s size, workforce make up, and what’s typical in their industry and in the Bay Area.

The remaining 15 percent of the rank is based on an assessment of all employees’ daily experiences of innovation, the company’s values, and the effectiveness of their leaders, to ensure they’re consistently experienced.

To be considered, companies had to meet the Great Place to Work-Certified standard. To ensure companies had a sufficient Bay Area presence, a minimum of 10 people from the Bay Area needed to respond to the survey and at least 5% of the survey respondents at large companies and at least 20% in small and medium companies needed to be from the Bay Area. Companies with 10 to 999 people were considered for the small and medium category; companies with 1,000 employees or more were considered for the large category.

To learn more about Great Place to Work Certification and recognition on Best Workplaces lists published with Fortune, visit Greatplacetowork.com.

PR CONTACT

LaunchSquad
[email protected] 
Kathleen Fahy
(847) 714-3491

NEW YORK, Jan. 14, 2021 (GLOBE NEWSWIRE) — Innovid, the only independent advertising and analytics platform built for television, today announced it has been granted accreditation by the Media Rating Council (MRC) for its measurement of rendered display ad impressions, expanding the omni-channel ad server’s existing accreditations in video and OTT.  Innovid’s accreditations now span measurement of rendered display impressions — desktop, mobile web and mobile app; measurement of rendered video impressions — in desktop, mobile web, mobile app and OTT; as well as video viewable impressions and related viewability metrics — in desktop, mobile web and mobile app. This broad range of accredited metrics stands as a testament to the independent platform’s ability to serve the needs of today’s global marketers through a single, omni-channel ad delivery and analytics platform.

“Innovid continues to demonstrate its industry leadership position with this latest addition of desktop and mobile rendered display ad impressions to its portfolio of MRC-accredited metrics,” noted George W. Ivie, Executive Director and CEO of the MRC.  “By meeting the MRC’s demanding accreditation requirements for measuring different creative types across a range of platforms, Innovid is helping to show the way for the future of ad measurement.”

In 2018, the MRC granted Innovid the first ever MRC accreditation for OTT video ad impression measurement, cementing an important milestone in the industry’s ongoing evolution in this space. Now, Innovid’s accredited metrics and methodologies have been independently vetted by the MRC to confirm they are valid, reliable and effective. This designation validates Innovid’s strategic investments across OTT, video, and display environments — providing an independent source of truth for brands, free of media buying conflicts. 

“We’re proud to be the first ad server granted MRC accreditations across OTT, video, and display,” said Zvika Netter, CEO and Co-Founder of Innovid.  “Leading global brands have chosen to consolidate ad delivery and measurement through our platform to advance creativity, streamline workflows, and connect with audiences through video and display across the advertising ecosystem. This accreditation is a testament to our ability to serve the needs of today’s global marketers, ensuring the quality and accuracy of their results across the breadth of expanded MRC-accredited metrics now available in our platform.”

Innovid’s MRC accredited metrics and methodologies for OTT, video, and display measurement are available now. For more information, please visit www.Innovid.com.

About Innovid

Innovid is the only independent omni-channel advertising and analytics platform built for television. We use data to enable the personalization, delivery, and measurement of ads across the widest breadth of channels in the market including TV, video, display, social, audio, and DOOH. Our platform seamlessly connects all media, delivering superior advertising experiences across the audience journey. Innovid serves a global client base of brands, agencies, and publishers through over twelve offices across the Americas, Europe, and Asia Pacific. For more information visit www.Innovid.com.

About the Media Rating Council (MRC)

The MRC is a non-profit Industry association established in 1963 composed of leading television, radio, print and internet companies, as well as advertisers, advertising agencies and trade associations whose goal is to ensure measurement services that are valid, reliable and effective. Measurement services desiring MRC Accreditation are required to disclose to their customers all methodological aspects of their service; comply with the MRC Minimum Standards for Media Rating Research; and submit to MRC-designed audits to authenticate and illuminate their procedures. In addition, the MRC membership actively pursues research issues they consider priorities in an effort to improve the quality of research in the marketplace. Currently approximately 110 research products are audited by the MRC. Additional information about MRC can be found at http://www.mediaratingcouncil.org.

Contact:

Adam Brett
516.320.0164
[email protected]

LAFOX, Ill., Jan. 14, 2021 (GLOBE NEWSWIRE) — Richardson Electronics, Ltd. (NASDAQ: RELL) announced today a new distribution agreement with Isahaya Electronics, a manufacturer of DC/DC converters, gate drivers, and hybrid ICs. Isahaya products are used in various applications including UPS, induction heating, solar power, wind power, EV charging, and motor drives. This partnership allows for Richardson Electronics and Isahaya to create new opportunities within the Americas.

Compatible with Fuji Semiconductor’s GEN 6 V-Series and GEN 7 X-Series IGBT modules, Isahaya offers DCDC converters for customers that want to build their own gate drivers, standard gate drive solutions, or complete custom solutions to fit specific IGBT & SiC module technologies. Isahaya gate drivers for the IGBT and SiC modules range from 15A-3600A and feature wide input voltage, low stray capacity, and high-speed response and accuracy.

“We continuously strive to deliver complete solutions to our customers. With the Isahaya product offering, we are confident these products will provide an optimal solution for our customers’ inverter applications that use IGBT modules,” said Greg Peloquin, Executive Vice President of Richardson Electronics’ Power & Microwave Technologies group.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; flat panel detector solutions and replacement parts for diagnostic imaging equipment; and customized display solutions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

About Richardson Electronics – Power & Microwave Technologies

For over 70 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. With the launch of the Power & Microwave Technologies group, we continue this legacy and complement it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at www.rellpower.com.

For Details Contact:
                           

Chris Marshall
CTO/VP of Marketing                                       
Phone: (630) 208-2222                          
[email protected]

UNIVERSITY PARK, Ill., Jan. 14, 2021 (GLOBE NEWSWIRE) — Applied Systems (“Applied”) today announced that it has entered into a definitive agreement to acquire EZLynx, a pioneer in real-time comparative rating and one of the fastest growing agency management systems in the U.S. This complementary acquisition will expand Applied’s portfolio of agency management and rating technologies to drive automation for agencies large to small while also increasing connectivity across the distribution channel to create greater value for all stakeholders.

“Start-up and fast-growing independent insurance agencies are on the rise, creating a growing segment of the marketplace looking for automation and technology choice,” said Taylor Rhodes, CEO at Applied Systems. “Applied’s investment in EZLynx further demonstrates our commitment to providing technology choice for agencies of all sizes and increasing automation and connectivity between agencies and insurers to create a more valuable digital distribution channel.”

Applied’s acquisition of EZLynx will expand agency choice of management systems that support their unique business model needs and deliver new innovation to enhance EZLynx’s notable portfolio of products. Additionally, Applied will integrate EZLynx’s industry-leading real-time comparative personal lines rating technology with Applied’s portfolio of products, including Applied Epic, creating a “better together” user experience between the applications while giving agencies even greater access to personal lines products. This tight integration will allow agencies to maintain a single view of customers and prospects while eliminating time spent managing multiple data points across disparate systems, creating greater productivity, simpler workflows, and added value.  

“EZLynx has always been devoted to solving the insurance agent’s most pressing problems and providing user-friendly software that can be used by anyone, anywhere, anytime,” said Nag Rao, CEO and co-founder of EZLynx. “This acquisition will provide our customers and employees access to new innovation and resources, allowing us to grow EZLynx’s capabilities more effectively for the benefit of all stakeholders of the insurance lifecycle.”

Hellman & Friedman, a preeminent global private equity firm with a distinctive focus on investing in high-quality growth businesses with a long-term approach, has been Applied’s majority shareholder since 2014, alongside minority shareholders Stone Point Capital, JMI Equity, and CapitalG.

Nomura Securities has provided committed financing to support the acquisition.

For more information on this acquisition, please click here.

About Applied Systems

Applied Systems is a leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is one of the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

About EZLynx

EZLynx pioneered personal lines real-time comparative rating, enabling agents to generate quotes from multiple insurance carriers with a single data entry point. Today, over 20,000 agencies rely on EZLynx to provide more than eight million home, auto, and package rating transactions every month.  EZLynx has also expanded beyond personal lines comparative rating by creating innovative software solutions that transform every facet of agency life, including agency management, client self-servicing, sales pipeline management, marketing and communications, accounting, eSignature, and more, all available on a unified, one platform solution.

Lauren Malcolm
Applied Systems
[email protected]