Temporary Employment Hiring is Improving
The American Staffing Association reported today that its weekly Staffing Index of temporary and
contract employment increased to a year-to-date high of 90 for the week ending April 1, which was almost 6% above the year-ago level and 0.74% above the
previous week. For Week 14, it was the highest reading since 2008 (see top chart
above), and just slightly below the 91 index level for the comparable week in 2007.
The bottom chart shows the monthly measure of Temporary Help Services employees from the BLS, and the 2.48 million temporary employees in March of this year was the highest since February 2008, although it fell slightly from 2.487 million in February.
As a leading indicator of future, broader-based labor demand, the upward trend in the ASA Staffing Index this year, and the upward trend in temporary employment for the last two years would suggest that conditions in the labor market will continue to improve going forward.
5 Comments:
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Hmmm, interesting...
Just an hour or two ago this started, right?
Nice to see, but man, Wall Street think profits have flattened out.
The Fed needs to think growth, and get over its peevish fixation on a nominal and subjective index of prices.
Hi Mr. Perry,
I've graphed the ASA index removing the seasonal trends in a blog post (if any of your readers are interested) -- I had emailed you in September that the ASA data is highly seasonal and arguably should be de-trended for clarity.
http://esoltas.blogspot.com/2012/04/seasonality-in-data.html
- Evan Soltas
LOL
Did anyone see the chart? It does not look very good.
Recently their were some stats released on the quality of the jobs that have been created during the current economic recovery if you want to call this a recovery. 42% of all the jobs created were low wage jobs. The rest were mid wage and high wage. Thats a record. Almost 50% of the new jobs created fall into that catgory. Their are a wide variety of reasons for this'Labor saving technology' recession' outsourcing by multinational corporations blue collar jobs along with many white collar jobs are now being outsourced to places like china India brazel poland philippines mexico. Many call center jobs which must be mid wage jobs are now routinely outsourced.
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