Friday’s release of the U.S. Bureau of Labor Statistics’ November Jobs Report revealed that the temporary employment penetration rate matched its all-time high of 2.03%. The penetration rate is a measure of temporary jobs as a percent of total employment, and the last time this figure reached this impressive of a height was in April of 2000.
Furthermore, over the month, temporary employment services jobs rose by 16,400, totaling 2.78 million temporary jobs. At The Execu|Search Group, we have observed a correlating uptick in the demand for temporary staffing services amongst both clients and jobseekers, and we’ve explored the topic further in our latest whitepaper, The Rise of the Contingent Workforce.
As Glenn Bernstein, Partner and President of The Execu|Search Group’s Temporary Staffing division, points out, “Over the last two years alone, we have experienced a 76% increase in the quantity of temporary assignments we’re placing each year, meaning clients and candidates alike are not only seeing the value in temporary staffing but also recognizing the various opportunities it can offer.”
To learn more about this topic, you can download The Rise of the Contingent Workforce, here.