Further great theme insights from Adecco on the world economy

One of the most surprisingly popular posts of the last year was this one titled 'Adecco - providing insights into employment macroeconomics'.  Today's Q2 presentation deck from the Swiss-listed recruitment company Adecco is also full of fascinating insights.

But before we get to them...a couple of words on Adecco's shares themselves.  Back in November at the link above I described the shares as 'a bit "jam tomorrow" to me in terms of valuation' since when they went up a bit...and are now lower:

This would still be my broad view of the share but with a 3% yield and relatively modest leverage it is not a disaster.  The real interest for me however rests with Adecco's insights into global trends.  Here's a few of my favourite charts:

If the recruitment industry is an insight into the health of the world then...it is all to play for.  It is clear to me that it is a stock picking world, theme specific world...

Another insight into the reality of the labour market: the rise in importance of temporary workers... 

Finally, are you a non-believer in the emerging market story over time?  At least in recruitment it is where the growth has been...that's why the rise and rise of the emerging market consumer remains clearly one of the biggest global themes out there:

You may not want to buy into Adecco's shares today...but some of the Adecco themes are eminently influential and investable in today's financial markets...