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                                                                    EXHIBIT 11.1



                                TALX CORPORATION
              STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
                                   (unaudited)

<TABLE>
<CAPTION>
                                                                                                      Year Ended March 31,
                                                                                              --------------------------------------
                                                                                                     2001                2000
                                                                                              -------------------  -----------------
<S>                                                                                           <C>                  <C>
Basic Earnings Per Share:

Actual shares outstanding - beginning of period                                                        5,616,448          5,505,017
Weighted average number of common shares issued (1) (2)                                                3,707,123          3,668,937
                                                                                              -------------------  -----------------
Weighted average number of common shares outstanding - end of period                                   9,323,571          9,173,954
                                                                                              ===================  =================

Net earnings:
    Continuing operations                                                                            $ 4,308,000        $ 2,767,000
    Gain on disposal of discontinued operations                                                           37,000            117,000
                                                                                              -------------------  -----------------
       Net earnings                                                                                  $ 4,345,000        $ 2,884,000
                                                                                              ===================  =================

Basic earnings per common share:
    Continuing operations                                                                                 $ 0.46             $ 0.30
    Gain on disposal of discontinued operations                                                             0.01               0.01
                                                                                              -------------------  -----------------
       Net earnings                                                                                       $ 0.47             $ 0.31
                                                                                              ===================  =================



Diluted Earnings Per Share:

Actual shares outstanding - beginning of period                                                        5,616,448          5,505,017
Weighted average number of common shares issued (1) (2)                                                3,953,708          3,830,042
                                                                                              -------------------  -----------------
Weighted average number of common shares outstanding - end of period                                   9,570,156          9,335,059
                                                                                              ===================  =================

Net earnings:
    Continuing operations                                                                            $ 4,308,000        $ 2,767,000
    Gain on disposal of discontinued operations                                                           37,000            117,000
                                                                                              -------------------  -----------------
       Net earnings                                                                                  $ 4,345,000        $ 2,884,000
                                                                                              ===================  =================

Diluted earnings per common share:
    Continuing operations                                                                                 $ 0.45             $ 0.30
    Gain on disposal of discontinued operations                                                             0.00               0.01
                                                                                              -------------------  -----------------
       Net earnings                                                                                       $ 0.45             $ 0.31
                                                                                              ===================  =================

</TABLE>

(1)    Basic and diluted earnings per share has been computed using the number
       of shares of common stock and common stock options and warrants
       outstanding. The weighted average number of shares is based on common
       stock outstanding for basic earnings per share and common stock
       outstanding and common stock options and warrants for diluted earnings
       per share in periods when such common stock options and warrants are not
       antidilutive.

(2)    Includes the effect of a 10% stock dividend declared September 7, 2000
       payable to shareholders of record on September 21, 2000 and a 3 for 2
       stock split declared November 16, 2000 payable to shareholders of record
       on December 22, 2000.