Nearly two years ago, I published an NCPA piece on the growth of temporary employment. With the advent of ObamaCare and much uncertainty in the economy, I suggested there could be a growing trend in temporary and part-time employment.
Well here you have it: In the area of professional business services employment, 26,000 temporary agency jobs were added. This number far exceeded computer systems design services (6,000) and architectural and engineering services (5,000). Without doing an extensive analysis, my simple conclusion is that more workers are being hired at temp agencies in order to handle the growing demand for temporary workers. Not to pat myself on the back, but my crystal ball has been working quite well. But anybody who has kept up with the state of the economy and the impending health care mandates could see this coming.
Other notable findings: the unemployment rate is up one-tenth of a point to 7.6 percent from April, but the labor force participation rate is also up one-tenth of a point to 63.4. However, the LFPR is just a glimmer of hope in an otherwise lukewarm labor report.