CWS 3.0: December 11, 2013

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US Temp Penetration Rate Matches All-Time High

The U.S. temporary employment penetration rate matched its all-time high of 2.03 percent in November, according to seasonally adjusted data released Dec. 6 by the U.S. Bureau of Labor Statistics. The penetration rate is a measure of temp jobs as a percent of total employment; October’s penetration rate was 2.02 percent based on revised BLS data.

The rate of 2.03 matches the all-time high set in April 2000, at the height of the dot-com economic boom. “We believe the current record high usage of temporary staffing is indicative of a gradual upward secular shift in the acceptance and adoption of temporary staffing, and the role that it plays in giving businesses added flexibility in managing their workforce,” said Timothy Landhuis, senior research analyst at Staffing Industry Analysts. 

Temporary employment services jobs rose by 16,400 in November on a seasonally adjusted basis, an increase of 0.6 percent, for a total of 2.78 million jobs.

In addition, the number of temporary jobs in October was revised upward by 21,800 and the number in September was revised upward by 16,000.

On a year-over-year basis, temp jobs were up by 8.6 percent in November.

In overall employment among all industries, the U.S. added 203,000 jobs. And the unemployment rate fell to a five-year low of 7.0 percent in November from 7.3 percent in October.

College-level unemployment fell to 3.4 percent in November from 3.8 percent in October. College-level unemployment can serve as a proxy for professional employment.

Click on charts below to enlarge.

 

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