Current Labor Indicators
- Total Unemployment: 7.7%
- College Educated Unemployment: 3.8%
- Total Job Loss/Gain: +146,000
- Temporary Penetration Rate: 1.91%
November employment figures continued to show positive indicators in the economy and the specialty areas of Kforce. As 2012 wraps up, we look at the employment trends which may reveal some of the reasons why more employers may choose to utilize Kforce to meet their skilled human capital needs.
Top 10 Employment Trends Heading into 2013
1. College-educated unemployment remains low at 3.8 percent, about one half of the headline unemployment number
2. The uncertain economic and regulatory landscape favors a temporary hiring model, offering cost-effective, flexible solutions
3. Temporary penetration rate (the percentage of temporary workers as a percentage of the total workforce) is at a multi-year high, with many forecasting a new historical high in the second half 2013
4. A large shift in the workforce outlook shows more candidates are considering temporary positions
5. Average shelf life of top talent is 48 hours – leveraging a staffing firm’s established networks to secure top talent quickly is even more important
6. Cultural fit is important - a temporary staffing model allows employers to evaluate consultant skills and whether they are the right match for the position
7. STEM (science, technology, engineering and math) jobs are increasing three times faster than any other area with skill shortages already being seen in some niches
8. Headline unemployment rates continue to edge down sequentially
9. 5.1 million jobs were added in the private sector since February 2010
10. U.S. has averaged 151,000 jobs added per month in 2012, with strength in the key specialty areas of technology and financial services
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