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Integrated Solutions Lead
San Antonio, TX

Advanced knowledge of programming language(s), software development tools and environment(s) and systems analysis and functional design

The Blackman Report: New Employment Report Proves It's All About Education

November 13, 2012
The Blackman Report: New Employment Report Proves It's All About Education

Current Labor Indicators

  • Total Unemployment: 7.9%
  • College Educated Unemployment: 3.8%
  • Total Job Loss/Gain: +171,000
  • Temporary Penetration Rate: 1.9%

 

In the October Bureau of Labor Statistics (BLS) report, the unemployment rate came in below the eight percent mark once again, at 7.9 percent. While this month’s figure is a slight increase from September’s 7.8 percent, the October employment report shows positive indicators for the staffing industry as a whole. In fact, the temporary penetration rate (the percentage of temporary workers as a percentage of the total workforce) ticked up to 1.9 percent.

 

Meanwhile, employment increased by 171,000 jobs and there were positive revisions to the August and September figures with 50,000 and 34,000 jobs added, respectively. In the October BLS report, employment also increased in Kforce’s specialty areas of professional and business services with 51,000 jobs added, as well as 30,000 jobs added in the healthcare sector.

 

The labor market remains tight for highly skilled workers however, as the BLS reports a decrease in the unemployment rate for college-degreed professionals from 4.1 percent in September to 3.8 percent in October. Conversely, the unemployment rate for those without a high school degree increased from 11.3 percent to 12.2 percent.

 

Demand for Highly Skilled Workers Continues

 

The October unemployment rate for those professionals with a bachelor’s degree or higher is at the lowest rate since the recession.

 

December Unemployment Rate

 

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About the author

Michael Blackman

As Chief Corporate Development Officer, Michael Blackman, a twenty year Kforce veteran, is the primary focal point for the Firm with the Wall Street investment and financial communities. He is regularly sought out by leading economists for his perspectives on the economy and labor markets, and contributes to a number of key proprietary economic publications.

 

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Kforce is a professional staffing and solutions firm providing flexible and permanent placement solutions in the skill areas of technology, finance & accounting and healthcare. Kforce operates in more than 60 offices located throughout the United States and one office in the Philippines.
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Knowledge Employed is a career advice blog and job tips resource center, created and managed by Kforce’s staffing specialists. Whether you are a professional needing career advice or a hiring authority seeking business guidance, our goal is to provide you with the knowledge and tools.