By Brian E. Clark
RISING
Actuant
The surging international energy business sector helped push earnings
gains at Waukesha County’s Actuant Corp. up by 17 percent during the
fiscal second quarter, bettering analysts’ forecasts.
Actuant said it is counting on a record year and says sales for the
full year ending in August should grow by as much as 16 percent, and
earnings per share should increase by up to 20 percent.
Sales of products and services for oil refineries and pipelines saw
double-digit growth in the second quarter, more than helping the
company offset sales declines in areas vulnerable to the U.S. economic
slowdown, company leaders said.
Actuant shares closed Monday at $31.38, down from a 52-week high of
$35.12.
MIXED
State employment
Total non-farm jobs increased 4,100 from January 2008 to February 2008,
to 2.8 million in Wisconsin, according to the state Workforce
Development Department. But the state’s February unemployment rate also
rose, climbing to 5.8 percent, up three-tenths of a point from January,
the agency said.
DWD Secretary Roberta Gassman blamed an “especially difficult winter”
for holding jobs down and said the unadjusted unemployment rate was the
same as last February. Private sector jobs fell over-the-month by
6,100, led by a drop of 1,900 in construction jobs and 1,800 in
manufacturing jobs.
Government jobs were up 10,300, led by local government, which added
6,100, and state government, which added 4,200, as public schools and
universities resumed classes after winter break. The national rate was
5.2 percent in February compared to 5.4 percent in January and 4.9
percent in February 2007.
FALLING
Hiring plans
A looming recession is leading many regional business owners to scale
back their hiring plans, according to a survey from the
Brookfield-based staffing firm, QPS Companies Inc. Moreover, two-thirds
said they won’t be raising their workers wages this year, QPS said.
The company said it queried more than 200 companies, including
manufacturers, banks, printers, distributors and information technology
firms throughout Wisconsin and Illinois. The survey showed that only 38
percent of employers plan to increase staff, down from first quarter
forecast of 54 percent.
QPS said the 38 percent figure is also well below second-quarter
numbers from 2006 (53 percent) and 2007 (52 percent).
