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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

Temporary Employment Closing in on Record Figures

November 13, 2013
Temporary Employment Closing in on Record Figures

Current Labor Indicators

  • Total Unemployment: 7.3%
  • College Educated Unemployment: 3.8%
  • Total Job Loss/Gain: +204,000
  • Temporary Penetration Rate: 2.00%

 

The November Bureau of Labor Statistics report showed the government shutdown in October had little effect on the employment situation, with 204,000 jobs added last month. Job gains continued in the professional and technical services sector with 21,000 jobs added this month. This sector has grown by 213,000 jobs in just the past 12 months. The headline unemployment rate also remained steady at 7.3 percent and the college-educated unemployment rate still remains below four percent. 

 

Additionally, the temporary penetration rate (the number of temporary workers as a percentage of the total workforce) continues to rise to record levels, today at 2.00 percent. This figure is at a cycle high and is within three basis points of the 2.03 percent all-time record temp penetration rate established in April 2000.

 

However, with prolonged uncertainty in today’s economic environment Kforce has continued to watch the shift to a flexible workforce. In fact, a recent report from the American Staffing Association shows growing evidence of this shift in the way businesses are turning to the staffing industry for talent and workforce solutions. The report highlights how staffing firms have added close to a million new jobs in the U.S. in just four years, outpacing virtually every sector and industry. The data would support that we are in the midst of a secular shift where more employers today choose to utilize temporary workers in order to meet their project-based demands, as well as to mitigate the multitude of regulatory and economic uncertainties present in today’s business environment. 

 

Employers Increasingly Turning to Temporary Staffing

 

Where the Jobs Are

In September 2013, staffing firms accounted for 20,000 of the 148,000 jobs created.

Source: WSJ

 

Click here to download the PDF version of the Blackman Report.

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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