ManpowerGroup sees demand for jobs 'slowing further,' most notably in the U.S.

Shares of staffing services company ManpowerGroup sank Thursday toward the worst one-day post-earnings performance in five years, as slowing demand for jobs due to increasing economic uncertainty resulted in another earnings miss and a downbeat outlook.

The... Shares of staffing services company ManpowerGroup sank Thursday toward the worst one-day post-earnings performance in five years, as slowing demand for jobs due to increasing economic uncertainty resulted in another earnings miss and a downbeat outlook. The company said in January that it had seen a “softening of demand” for staffing services in the fourth quarter, but added that labor markets remained strong and that order flow was still good. Although ManpowerGroup missed profit expectations that quarter, it provided a first-quarter profit outlook that was above expectations.“This softening trend continued into the first quarter of this year, with demand for staffing services slowing further, most notably in the U.S.

Net income fell to $77.8 million, or $1.51 a share, from $91.6 million, or $1.68 a share, in the same period a year ago. Excluding nonrecurring items, adjusted earnings per share of $1.61 came in below the average analyst estimate compiled by FactSet of $1.63.CEO Prising said that after months of a “remarkably strong” U.S. labor market, he is seeing more companies across various industries “recalibrating their workforces.

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