Labor SMART (OTCBB: LTNC) is proving my pick right as it booked record revenues for August.
The entire demand labor industry should do well as the US Department of Labor just reported that 169,000 more jobs were added to the American economy. The more work there is, the more demand there is for the services of staffing solutions firms such as Labor SMART, Paychex (NASDAQ: PAYX), TrueBlue (NYSE: TBI), and Robert Half International (NYSE: RHI).
I made Labor SMART as a pick as I like growth stocks (who doesn't?)
It has not disappointed. Revenues for August were up 175% from those for August 2012. In addition, Labor SMART added more than 100 clients in August. The client base for Labor SMART ranges from small businesses to Fortune 100 corporations. That is a diverse client base that will serve investors well for the long term.
The long term is certainly bullish for Labor SMART and others in the demand labor industry.
It is a $29 billion sector that is growing. The stock prices for TrueBlue, Robert Half International, Paychex and others are proof. The percentage of the American workforce comprised of part-time staff has increased due to the effects of The Great Recession. It should grow even higher due to the added employee costs of Obamacare.
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This should prove to be a record year for Labor SMART. August was the first month it ever went over $2 million in revenues. For the year, revenues are already higher than the market capitalization for the company. As the revenues continue to increase for Labor SMART, so should the share price!
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