Trueblue Stock Price, News & Analysis

A recent analysis from PeopleReady reveals a significant shortage of skilled trade workers in the U.S., with jobs remaining unfilled for an average of one month. The gap is largely attributed to retiring baby boomers. According to Jill Quinn, the demand for apprentice-level positions is high, offering steady, well-paying job opportunities. Notably, job postings for plumber apprentices have surged by 24%, while median hourly wages for helper positions stand at $16, potentially increasing with training. This presents a compelling opportunity for job seekers.

PeopleReady Skilled Trades reports significant growth in the skilled trades sector amid economic challenges, with nearly 400,000 job postings since March 2020. Key areas of demand include drywall finishers (100% increase) and tile and stone setters (94%). Recently, job postings surged, particularly for drywall finishers (300%) and boilermakers (78%). The company aims to connect tradespeople with available job opportunities, especially as the construction season approaches, highlighting the resilience and thriving nature of skilled trades in a fluctuating job market.

PeopleReady, a staffing leader, is adapting to ongoing workforce changes by launching a new brand promise, 'Within Reach', alongside refreshed branding and website updates. The company aims to enhance its digital transformation efforts, connecting over 90,000 job seekers each month through a centralized sourcing engine and virtual onboarding experience. Key features, such as the new Apply to Dispatch function within their JobStack app, have significantly reduced hiring times by 87%, enabling quicker connections between candidates and employers.

TrueBlue (NYSE:TBI) reported its Q4 and full-year 2020 results, with full-year revenue declining to $1.8 billion, down 22% from 2019. The company faced a net loss per diluted share of $4.01, contrasting with a net income of $1.61 in the prior year. For Q4, revenue was $519 million, a 12% decrease from Q4 2019. Adjusted net income per diluted share also fell to $0.33, a 15% decline year-over-year. Despite these challenges, the CEO highlighted improvements in revenue trends, cost discipline, and ongoing investments in digital strategies, particularly the JobStack app.

TrueBlue (NYSE: TBI) announced it will release its fourth quarter and full-year 2020 earnings results after market close on Feb. 3, 2021. This release will be followed by a webcast at 2:30 p.m. PST (5:30 p.m. EST) on the same day, where management will discuss the results.

TrueBlue is a leader in workforce solutions, connecting around 724,000 individuals with work opportunities in 2019 through its PeopleReady, PeopleManagement, and PeopleScout segments. For more information, visit www.trueblue.com.

TrueBlue announced that three of its executives have been recognized in Staffing Industry Analysts' Global Power 150 Women in Staffing list. Taryn Owen, Jill Quinn, and Loree Lynch have been acknowledged for their leadership in the staffing industry. Owen, president of PeopleReady, has driven digital transformation with the JobStack platform. Quinn, president of Centerline Drivers, emphasizes driver safety and employee culture. Lynch, SVP of Staff Management | SMX, has pioneered on-site staffing. TrueBlue highlights the importance of diversity and inclusion within the organization.