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US temp jobs rebound in November after October loss

US temp jobs rebound in November after October loss

Craig Johnson
| December 6, 2024
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US temporary jobs rose by 1,600 in November, according to US Bureau of Labor Statistics data. The number marks a rebound from the loss of 33,300 temp jobs in October based on revised data. The decline in October was revised down from the initially reported loss of 48,500.

“We are pleased to see an increase in temporary help services employment, but caution that today’s numbers may reflect a bounce-back from strike- and hurricane-related disruptions in October,” SIA Economist Michael Schultz said. “That said, improving business confidence, reduced uncertainty following a conclusive election result and trends in the SIA | Bullhorn Staffing Indicator suggest an improving environment for staffing.”

Temp employment totaled 2.6 million jobs, below its high point of nearly 3.2 million in March 2022.

“The monthly temporary help employment gains in September and November add to the evidence that industry volumes may have reached a bottom,” Timothy Landhuis, VP of research at SIA, said. “With temporary help usage currently at cyclically low levels and expectations for solid economic and labor market growth in 2025, we are cautiously optimistic that the coming year will be more positive than this year for the US staffing industry.”

Total US nonfarm payroll gained 227,000 jobs for total employment of approximately 159.3 million.

November’s temp penetration rate — temp jobs as a percent of total employment — was 1.66%, unchanged from the previous month’s reading of 1.66%.

Meanwhile, the US unemployment rate edged upward to 4.2% from 4.1%. On the other hand, the college-level unemployment rate fell to 2.4% from 2.5%.

Employment trended upward in healthcare, leisure and hospitality, government and social assistance.

For the month, healthcare added 54,000 jobs, in line with its average monthly gain of 59,000 over the prior 12 months. Within healthcare, ambulatory healthcare services added 22,000 jobs, led by a gain of 16,000 in home healthcare services. Employment increased by 19,000 in hospitals and by 12,000 in nursing and residential care facilities.

Employment rose by 32,000 in “transportation equipment manufacturing”  with a return of workers who had been on strike.

“Today’s report emphasizes that the labor market remains strong and that policymakers at the Federal Reserve have room to work as we approach a soft landing,” Cory Stahle, economist at Indeed, said in a press release. “While the economy remains on the trajectory toward a soft landing as we move toward 2025, the outcome remains unclear, as economic outcomes will depend on how policymakers pilot the plane and what objectives they prioritize next year.”

The average hourly earnings for all employees on private nonfarm payrolls rose by 13 cents to $35.61.

For more information on the jobs numbers, see SIA’s December 2024 Jobs Report, released today.