High Temp Hiring Not The Usual Jobs Indicator

 

Washington, DC, Oct. 6, 2010--Jobs in the temporary services industry are up 22.1% from a year ago, according to the Labor Department.

That statistic normally bodes well for permanent hiring at the end of a recession, but so far, not this time.

The overall job market expanded only 0.2% during the same period.

According to one analyst, businesses are still too scared to hire. Mixed economic data, sweeping new financial and health care reforms and uncertainty about the expiring Bush tax cuts, have all left employers feeling jittery about their future business prospects.

In previous recessions, the overall job market rebound followed that of the temp industry by about six and 12 months.

But it's been 12 months since the temp industry started to pick up and there are still few signs of an overall jobs recovery.

About 80% of employers surveyed by Manpower last month, indicated they would not be increasing their hiring in the fourth quarter. And on Friday, the government is expected to report that no jobs were added to the economy in September.

 

 


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