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The U.S. government estimate of quarterly revenue for the employment services industry was up 4.9% year-over-year in the third quarter, according to numbers released today by the U.S. Census Bureau. Employment services revenue was estimated at $46.25 billion in the third quarter, up from $44.07 billion in the same period last year.
Third-quarter revenue was also up 0.4 % compared with the second quarter of this year. The bureau reported second-quarter employment services revenue at $46.07 billion.
In the first nine months of 2008, the Census Bureau reports employment services revenue increased 5.7% compared to the first nine months of 2007.
The bureau's numbers, so far, differ from Staffing Industry Analysts' forecast, which projects a 3.1% contraction in staffing industry revenue for all of 2008, as well as other industry reports of declining growth.
Employment services include employment placement agencies, temporary help services and employee leasing services, according to the Census Bureau.