Temporary help services employment — the contingent workforce procured through staffing firms — increased by 0.34% in April with the addition of 10,300 jobs since March, according to data released by the US Bureau of Labor Statistics last week.
On a year-over-year basis, temporary help employment was up 3.9%, with monthly job gains averaging 9,400 for the past 12 months. The temporary penetration rate, the portion that comes of the overall workforce that is employed as assigned workers edged up to 2.039% in April from 2.035%.
The employment numbers reflect a tightening labor market, and companies should expect to see wages begin to reflect the swing toward the talent market. SIA President Barry Asin said, “We may see some wage increases as companies respond to labor scarcity, with an expectation that unemployment will remain generally flat as participation in the labor force increases on par with the average increases we’ve seen over recent months.”