For the rest of 2013 we expect to see a promising upward trend for temporary worker wages. Year-over-year, the temporary help services category has seen the largest growth in the economy at 6.7% compared to other sectors. Temp help services is one of the largest contributors to professional and businesses services, a category that has grown significantly at 3.5%.
Powerful Recovery of Temp Workforce Bypassing Overall Employment Index
Total nonfarm payroll employment increased by 162,000 in July. Unemployment fell to 7.4% in July from 7.6% in June, the lowest since December 2008.
Sectors where employment rose include retail trade, food services, financial activities and wholesale trade. With the manufacturing industry slowly picking up the pace, other sectors such as construction, wholesale and retail trade, leisure and hospitality, and mining and lodging have also shown indications of revival.
Month-over-month, full-time employment increased by 92,000 jobs, whereas part-time jobs increased by 174,000. The number of self-employed jobs also maintained high growth with 241,000 jobs added.
Temporary help services jobs rose by 7,700 in July with a penetration rate of 1.98 percent. The temporary penetration rate measures temporary employment as a percentage of total jobs in the United States.
Powerful Recovery of Temporary Help Services
Changes in Professional and Business Services Sector
Year-over-Year Changes in Professional and Business Services Employment by State
Changes in the percentage or volume of worker population signify the impact of a particular super sector on the geographic location. While some states have a noticeable change in volume over the year (in the chart above, the bubble shoes the relative size of the population), it is not remarkable when taken in conjunction with the percentage change in employed population.
Hot Industries for Employment
Major Industries, by Volume and Percentage Growth
The same criteria of year-over-year change in volume and percentage can be used to determine which industries are growing in employment. Data indicates that professional and business services and leisure and hospitality are the top industries to look at for employment opportunities.
The fact that temp help services is a major contributor to professional and business services with a 6.7% year-over-year growth reinforces temp employment becoming a major part of the economy and job market. In the leisure and hospitality sector, the largest year-over-year change is seen in performing arts and spectator sports employment.