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US - IQNdex finds temp bill rates flat in third quarter

November 14 2013

Overall temporary bill rates remained nearly unchanged despite the record level of hiring for temporary and contingent workers in the United States and a prolonged period of direct permanent employee hiring, according to the latest IQNdex, a summary of bill rates for temporary staffing released by vendor management system provider IQNavigator.

The index began and ended the third quarter at a reading of 107.4.

“Despite all the hiring, billing rates remain very stable,” said Gary Pollard, vice president, information products at IQNavigator.

“That is an interesting illustration of just how much excess capacity there has been in the labor market because of the severity and length of the recession,” Pollard said. “In other circumstances, demand for workers of this duration would drive bill and wage rates up markedly, but the labor market has supported this wave of direct and temp hiring without the normal upward pressure on the price of that labor. This will likely encourage employers to continue seeking contingent workers as a way to meet their labor needs while retaining the flexibility they are looking for.”

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