Temporary Employment Growth Picks Up
Mountain View, California — November 9, 2020 — Total nonfarm employment in the US rose by 638,000 jobs in November, per the seasonally adjusted data released today by the US Bureau of Labor Statistics (BLS). The national unemployment rate declined from 7.9% to 6.9%, even as the labor force rose.
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Twelve of the 15 major industry groups posted job gains in October. The sectors most contributing to total nonfarm employment and making up the majority of job gains for the month were Leisure & Hospitality (+271,000), Temporary Help (+108,700) and Retail Trade (+103,700). All of the 15 major industry groups are still down year-over-year, with Financial Activities remaining the closest to flat (-0.9%).
Temporary help services employment reported a substantial gain of 108,700 jobs in October, with the highest percentage gain of the 15 industry groups for the month. Revisions to the temporary help services sector for September, from +8,100 to +21,800, increased previous estimates by 13,700 jobs. The temporary penetration rate rose from 1.76% to 1.82%, though still below the pre-pandemic level of 1.93%.
“October was a favorable month for temporary help services employment, and the temporary employment sector has recovered 62% of the losses from February through April,” said Barry Asin, SIA President. “However, there are still challenges ahead in the recovery and in building back the labor market for both temporary and permanent job losses.”
SIA’s complete November Jobs Report analysis is available for the entire workforce solutions ecosystem. SIA now features an Interactive Jobs Report tool in addition to the regular analysis, available for SIA Corporate and CWS Council Members.
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