Business Services: Buoyant May Labor Report Suggests Accelerating US Temporary Help Growth

  • Wednesday, June 10, 2015 5:08 PM
    Message # 3382349
    Diane Lasorda (Administrator)

    According to today’s US labor report, temporary workers grew by an impressive 20k in May (sequential, seasonally adjusted), the third consecutive month of strong results following declines in January and February. Temporary worker increases of 20k represents one of the strongest months in the last three years. Growth in temporary workers comes amid strengthening total nonfarm payrolls. The stronger results are consistent with passing real GDP weakness in 1Q15 followed by an expected rebound, but temporary work numbers have been hard to read recently in our view. BLS reported temporary workers grew 5.8% y/y seasonally adjusted, an acceleration from the previous three months and annual average for 2014 of 5.6%. We see employment growth remaining at healthy levels with US real GDP resuming more normal growth in the balance of this year. 

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    Last modified: Monday, June 29, 2015 2:35 PM | Diane Lasorda (Administrator)
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