With the holiday season approaching, the job market has an increased demand for temporary workers by employers. In the fourth quarter of 2013 we expect the surge of employers’ reliance on temps to drive increased employment numbers along with the hourly wages of the temporary workforce in the United States.
In August, the U.S. added 13,100 temporary help services jobs on a seasonally adjusted basis. Total nonfarm employment rose by 169,000 for a total employment of approximately 136.13 million.
Employment in auto manufacturing rose steadily, continuing to outpace the economy in general. The oil and gas sector is booming and employment in that industry continues to accelerate. While employment growth in the construction sector was flat in August, it has grown at twice the national rate over the last 12 months, creating nearly 650 new jobs every day.
The U.S. unemployment rate fell to 7.3 percent in August from 7.4 percent in July. College-level unemployment, often considered a representation for professional employment also dropped down to 3.5 percent in August from 3.8 percent in July.
Year-over-Year Growth in Temporary Jobs (Seasonally Adjusted)
Aggregate Hours Declining
In the employment reports from the Bureau of Labor Statistics (BLS), we can get the trend of the hours worked by Americans from the aggregate weekly hours data. Growth in the number of hours worked means higher rates of production and more economic activity. In the last month, job creation rose and unemployment decreased, but aggregate hours worked declined by one-tenth of a percent. This means that employers hired more people but for fewer hours each. It is possible that the new Affordable Care Act (ACA) regulations are prompting employers to add more part-time rather than full-time workers.