Temporary Help Services Continues Positive Trend
Mountain View, California — December 5, 2016 — A total of 178,000 jobs were added to the US economy in November, according to seasonally adjusted data released Friday by the U.S. Bureau of Labor Statistics. Unemployment dropped 24 basis points to 4.64%, declining to its lowest level since November 2007, alongside a sequential decline in the labor force participation rate.
The sectors leading the overall growth this month were Professional Services (excluding temporary help, +48,700), Healthcare & Social Assistance (+34,700) and Leisure & Hospitality (+29,000). Construction also experienced healthy jobs growth this month (+19,000), and over the past three months has added a total of 59,000 jobs. Year-on-year nonfarm employment rose 1.6%, as growth decelerated again in November. Information (-10,000), Retail Trade (-8,300) and Manufacturing (-4,000) reported job losses this month.
Temporary help services added 14,300 jobs in November, almost double the 7,300 jobs gained in October. The temporary penetration rate rose to 2.05%, approaching its December 2015 all-time high of 2.06%. Year-on-year temporary help employment was up 1.9%, with monthly job gains averaging 4,700 over the past 12 months. Upward revisions to the temporary help services sector for September, from +31,000 to +33,600, and October, from +6,400 to +7,300, increased previously reported gains by 3,500 jobs.
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“The moderate improvement in temporary employment conditions we noted in October has picked up additional steam this month,” said Barry Asin, President of Staffing Industry Analysts (SIA). “With year-on-year growth in temporary help services well above the recent low exhibited in June, and the temporary penetration rate climbing to 2.05%, prospects for the sector are much improved. With the acceleration of GDP growth in Q3 potentially spurring business confidence, the outlook for hiring and labor market trends heading into 2017 is favorable.”
SIA’s full December Jobs Report analysis is available here.
About Staffing Industry Analysts (SIA)
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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.
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