Sunday, July 8, 2012

When the going gets tough, the tough get temps

Almost a third of the US non-farm payroll increase for June came from temporary workers. This demonstrates an ongoing unease across the corporate sector. As firms get spooked by the mess in Europe, the global slowdown, the US fiscal cliff, and risks of US consumer retrenchment (related to all of the above), they increasingly rely on temporary workers. The uncertainty around healthcare expenses is not making the situation any easier. Since the financial crisis, the growth in temporary employees has outpaced the overall payroll increases.

(in thousands)
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