Daily News

View All News

US adds 19,700 temp jobs in September, penetration rate hits another high

October 03, 2014

The U.S. added 19,700 temporary help services jobs in September even as the number of temporary help services jobs in August was revised upward by 17,600, according to seasonally adjusted data released today by the U.S. Bureau of Labor Statistics. The temporary penetration rate reached yet another new high of 2.10 percent in September.

Looking at total employment across industries in September, the U.S. added 248,000 jobs — above the 180,000 added in August based on revised data and topping the MarketWatch-compiled economist forecast of 220,000.

The unemployment rate fell to 5.9 percent in September from 6.1 percent in August. The college-level unemployment rate, which can serve as a proxy for professional employment, fell to 2.9 percent in September from 3.2 percent in August.

“The economy generated a gain of 248,000 jobs in September, faster than the average monthly gain over the past year, and revisions to July and August were very positive,” according to commentary by The Conference Board. “The slower gain initially reported for August now appears to have been simply an aberration. The continued rapid drop in the unemployment rate increases the odds that reaching the natural rate of unemployment and the first Fed rate hike will occur in the first half of 2015. The one negative piece of information from this report is the ongoing weakness in wage growth.”

Click on charts to enlarge

.