Trueblue - TBI STOCK NEWS

According to a report by PeopleReady, U.S. job postings exceeded 49.1 million in 2022, marking a 12% increase from the previous year and a 42% rise above pre-pandemic levels. With 1.7 job openings for each job seeker, labor shortages remain a pressing issue as employers face inflation and supply chain challenges. Key sectors with notable job postings included: Business and professional services (4.2 million), Retail (4 million), and Education and health services (2 million). The report highlights trends in flexible scheduling and employee upskilling as strategies for recruitment and retention in a fluctuating labor market.

TrueBlue has announced that three of its leaders were recognized in the HRO Today 2022 HR Superstars list for their innovative contributions to the human resources industry. The executives honored include Steve Cooper (CEO), Taryn Owen (President and COO), and Carl Schweihs (President and COO of PeopleManagement). Cooper, who has a long history with the company, has led TrueBlue through significant growth. Owen, appointed in September 2022, oversees various operating segments and emphasizes a commitment to an inclusive workplace. Schweihs has introduced new technologies to improve worker experiences. TrueBlue serves 84,000 clients and connected approximately 611,000 people to work in 2022.

TrueBlue (NYSE:TBI) reported its fourth quarter and full-year results for 2022, revealing a 10% drop in Q4 revenue to $558 million from $622 million in Q4 2021. Net income per diluted share fell to $0.21 from $0.57 year-over-year. However, for the full year, revenue increased by 4% to $2.3 billion, compared to $2.2 billion in 2021. Net income per diluted share rose to $1.86, up from $1.74 in the previous year. CEO Steve Cooper highlighted effective cost management and disciplined pricing as key factors in navigating macroeconomic challenges, positioning the company to address blue-collar labor shortages and recruitment issues.

Centerline Drivers announced Raeshaun Brasfield from Tuscaloosa, Alabama, as the inaugural winner of its Drive It Forward scholarship, aimed at supporting women in the trucking industry. This scholarship provides up to $7,500 for tuition to a CDL program, honoring Sheila Castaneda, a key advocate for women in trucking within Centerline's leadership. Raeshaun, a mother of two and former traveling CNA, aspires to become a truck driver and eventually start a family trucking business. Applications for the 2023 scholarship are open until December 31, 2023, at 11:59 EST.

PeopleScout's research highlights a significant gap between candidate expectations and actual job search experiences. A survey of over 2,400 job seekers revealed that less than 20% rated their experience as 'excellent'. Technology and social media have raised expectations for seamless applications, yet many employers fall short—only one-third actively share career content on social platforms. Moreover, candidates prioritize emotional connections with organizations, but less than half of companies showcase their mission and values. The findings call for employers to enhance the candidate experience.

TrueBlue (NYSE: TBI) will announce its fourth quarter and full-year 2022 earnings results after market hours on February 1, 2023. A management webcast to discuss the results is scheduled for 2:30 p.m. PT (5:30 p.m. ET) on the same day. Investors can access the webcast alongside a financial presentation on TrueBlue’s website. TrueBlue specializes in workforce solutions, connecting around 615,000 people with work in 2021 through segments like PeopleReady, PeopleManagement, and PeopleScout, which service various industries.

PeopleReady Skilled Trades has reported significant growth in demand for skilled trade jobs, with a 10% increase year over year. An analysis revealed over 2.8 million job postings from October 2021 to October 2022, indicating a robust market for young job seekers. The U.S. Bureau of Labor Statistics anticipates faster-than-average employment growth in the construction sector, promising lucrative opportunities. Key roles in demand include electricians and plumbers. With a projected shortage of tradespeople, attracting younger generations to these careers is crucial.