This was achieved despite a relatively modest market growth.

We were trying to keep people away from predicting 15-to-20-percent growth rates [in U.S. services] in the third quarter, when we came off a 7-percent growth rate in the second quarter, ... We're seeing good growth, good job creation that's still solid, but about the same as it was in the second quarter.

The outplacement industry has gone through much more of a severe downturn than anyone, including us, would have anticipated.

When we deliver the service, we've got some just incredible loyalty among our clients. The fact of the matter is, I'm immensely disappointed in our ability to go out and sell the service.

If you look at skilled positions like electrical engineers or application engineers, the average time to fill those positions has gone up from six to eight week. That may not sound like a lot of time, but with all the efficiency improvements of recent years, there's not much leeway in staffing when you have an opening.

This is one of the most negative outlooks in the wholesale and retail sector since the first quarter of 2004. They're going to be very cautious.