Temporary Help Services Growth 3.2% Y/Y

Mountain View, California — March 10, 2017 — A total of 235,000 jobs were added to the US economy in February, according to seasonally adjusted data released Friday by the U.S. Bureau of Labor Statistics, exceeding expectations. Unemployment dipped 8 basis points to 4.7% in February, from 4.8% in January, despite a concurrent labor force participation rate increase of 10 basis points to 63.0%. 

The sectors leading the strong overall growth this month were Construction (+58,000), Professional Services (excluding temporary help, +33,900) and Healthcare (+32,500). Construction, which has added close to 100,000 jobs so far in 2017, had its largest monthly employment increase in several years. Natural Resources and Mining had the strongest month on a percentage basis, up 1.3% with its fourth consecutive monthly increase. Retail Trade (-26,000) was the only sector reporting a decline for the month.

Temporary help services employment increased marginally in February by 0.10%, with the addition of 3,100 jobs. The temporary penetration rate was unchanged at 2.04%, just below the 2.05% all-time high of December 2015 and November 2016. Year-on-year temporary help employment was up 3.2%, its fastest growth rate since December 2015, with monthly job gains averaging around 7,600 over the past 12 months. Revisions to the temporary help services sector for December, from -12,800 to -17,400, and in January, from +14,800 to +6,500, reduced previously reported gains by 12,900 jobs. 

Click image to enlarge.

“The strong overall jobs growth this month and rising business confidence anchor the positive trends in the broader employment and economic picture,” said Barry Asin, President of Staffing Industry Analysts (SIA). “The 3.2% growth rate year-on-year in temporary help services employment, along with a third straight near-high in February for the temporary penetration rate, suggests a promising outlook for the reacceleration of growth in temporary hiring in the months to come.”

SIA’s full March Jobs Report analysis is available here.

About Staffing Industry Analysts (SIA)

SIA is the Global Advisor on Staffing and Workforce Solutions
Elevating the Workforce Solutions Ecosystem
Founded in 1989, SIA is the global advisor on staffing and workforce solutions. Our proprietary research covers all categories of employed and non-employed work including temporary staffing, independent contracting and other types of contingent labor. SIA’s independent and objective analysis provides insights into the services and suppliers operating in the workforce solutions ecosystem including staffing firms, managed service providers, recruitment process outsourcers, payrolling/compliance firms and talent acquisition technology specialists such as vendor management systems, online staffing platforms, crowdsourcing and online work services. We also provide training and accreditation with our unique Certified Contingent Workforce Professional (CCWP) program.

Known for our award-winning content, data, support tools, publications, executive conferences and events, we help both suppliers and buyers of workforce solutions make better-informed decisions that improve business results and minimize risk. As a division of the international business media company, Crain Communications Inc., SIA is headquartered in Mountain View, California, with offices in London, England.

Media Contact
Jennifer Arcuni, Communications Director, Staffing Industry Analysts
jarcuni@staffingindustry.com, +1 650-390-6171 |  www.staffingindustry.com