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US temp jobs dip over month in February, but revisions not done

March 06, 2015

The number of US temporary help services jobs fell by 7,800 in February from January on a seasonally adjusted basis, according to the US Bureau of Labor Statistics. February’s jobs data reflect a major annual revision that first took effect with January’s jobs data. Revisions continued today as the BLS cut its estimate of temporary help services jobs in January by 13,700.

In addition, February’s temp penetration rate fell to 2.01% in February from 2.02% in January, according to today’s data. The penetration rate reflects temporary help services jobs as a percent of total employment.

Temporary help services jobs, however, were still up by more than 141,000 in February when compared with February 2014, according to today’s data. The US counted 2.8 million temporary help jobs in February.

Overall, the US added 295,000 nonfarm jobs in February. The unemployment rate fell to 5.5% in February from 5.7% in January, marking the lowest rate since the spring of 2008. The college-level unemployment rate, which can serve as a proxy for professional employment, edged down to 2.7% in February from 2.8% in January.

“The economy generated 295,000 new jobs in February, which continues a surprisingly strong trend,” The Conference Board stated. “There has been no significant impact from the winter weather during the month. As expected, the lower oil price level is beginning to shrink employment in the mining industry, but it is not large enough to make a significant dent in the total number of jobs.”

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