Recruitment, HR Stocks Hit Harder Than Market

Recruitment stocks were no exception to the hammering stocks took today as investors worldwide drove down markets, sending a message to finance leaders that they were unimpressed with Friday’s U.S. bank bailout.

A spotcheck of several publicly traded HR vendors showed most of them were off by at least as much as the overall markets, all of which closed down. The Dow Jones Industrial Average was off 370 points, a 3.58 percent drop that was actually considerably improved from the 800 points the Dow was down at one point Monday. The NASDAQ was off 84 points for a 4.34 percent drop.

In the last 90 minutes of trading the New York Stock Exchange saw a sharp upturn that recouped some 400 points. The rising tide lifted most boats, including the shares of publicly traded HR recruitment, staffing, and tech stocks. Even so, among the companies we checked, only Monster (profile; site) was up on the day, closing at $14.81, up 6 percent. Dice Holdings (profile; site), like Monster a job board, was down 7 percent to close at $6.05 a share. Workstream (profile; site), which owns 6FigureJobs.com, closed at 7 cents a share, a 12.51 percent plunge for the troubled company.

Among the HR tech vendors, Taleo (profile; site) was down 9.77 percent to $16.07, while competitor Kenexa (profile; site) closed at $12.94 for a 5.75 percent drop.

Some of the staffing companies performed better, a relative term considering the size of the market drop. Manpower, for instance, was down $1 to close at $36.92, a drop of 2.64 percent. Kelly was off 3.38 percent, down 60 cents to $17.13 a share.

Article Continues Below

There may yet be more bad news. In after hours trading prices began declining again.

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

Topics

Leave a Comment

Your email address will not be published. Required fields are marked *