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US – IQNavigator: Temp Bill Rates Up Over Year

January 21 2013

Bill rates for U.S. contingent workers rose during 2012, according to IQNavigator, a vendor management system provider. IQNavigator’s index of contingent labor bill rates in the U.S. increased 2.7 percent for the year.

The increase outpaces the rate of inflation, according to IQNavigator. And the upward pressure on bill rates indicates rising demand for temporary workers as well as the possibility of a dwindling supply as general employment rebounds. The U.S. unemployment rate fell to 7.8 percent in December from 8.5 percent in the same month a year ago.

The rise in the IQNdex during 2012, while modest, suggests that improving employment prospects will help drive up both wages and temporary labor rates at an increasing rate in 2013, according to the company.

Additional findings about specific job segments:

  • Technical IT sector: Increases were concentrated in design, development and business-facing roles, while rates for operational and support titles were flat.
  • Professional-managerial sector: Upward rate pressure was concentrated in titles requiring higher levels of education.
  • Light Industrial sector: Rates rose slightly.
  • Office/clerical sector: The lack of pressure on office-clerical rates illustrates the connection between educational requirements and tightening labor supply, according to IQNavigator. Roles typically requiring a college degree increasingly command higher rates, while those needing less education rose little this year.

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