GEE Group Inc. (JOB) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.277 from our forward-looking statements 00:00:03.277 -- 00:00:08.127 these risks and uncertainties are described below under the caption forward-looking statements 00:00:08.127 -- 00:00:13.518 safe harbor and in Wednesday's earnings press release and our most recent 00:00:13.518 -- 00:00:20.007 form 10 Q 10 K and other SEC filings under 00:01:37.062 -- 00:01:40.827 available in the investor center of our website, 00:01:40.827 -- 00:01:42.827 www.geegroup.com. 00:01:44.852 -- 00:01:47.976 Now on to today's prepared remarks. 00:01:47.976 -- 00:01:52.482 We continue to face very difficult and challenging conditions in the hiring environment 00:01:52.482 -- 00:01:59.330 for our staffing services, which have been ongoing since the second half of 2023 00:01:59.330 -- 00:02:02.792 and throughout 2024 and 2025. 00:02:03.516 -- 00:02:08.796 These have stemmed from what is now acknowledged as overhiring that took place 00:02:08.796 -- 00:02:11.359 in 2021, 2022, 00:02:11.359 -- 00:02:16.506 and the immediate aftermath of the pandemic and the macroeconomic 00:02:16.506 -- 00:02:17.908 uncertainty, 00:02:17.908 -- 00:02:22.134 interest rate volatility, and inflation that followed. 00:02:22.134 -- 00:02:26.921 These conditions have produced a near universal cooling effect on U.S. 00:02:26.921 -- 00:02:32.488 employment, including businesses' use of contingent labor and the hiring 00:02:32.488 -- 00:02:34.691 of full-time personnel. 00:02:34.691 -- 00:02:36.395 Since 2023, 00:02:36.395 -- 00:02:41.781 Many client initiatives, such as IT projects and corporate expansion 00:02:41.781 -- 00:02:47.428 activities, requiring additional labor in general, have been put on hold. 00:02:47.428 -- 00:02:52.454 Instead, many of the businesses we serve have imple...