Once again, we’re here for the Beeline weekly roundup. We scope out industry headlines and trends each week, so that you stay informed about what’s happening in the temporary workforce world.
Hiring Booms in June as Economy Speeds Up (via Market Watch)
The Bureau of Labor Statistics released their July economic situation last week. It was revealed that 288,000 jobs were added in June, which is the fifth consecutive month in which there have been more than 200,000 jobs added to the U.S. market. The last time this happened was in 1999. Because of the large growth, the unemployment rate also dropped 0.2 percentage points, now resting at 6.1 percent. This is good news, as the unemployment rate has officially exceeded the Fed’s year-end prediction just halfway through the year.
US Adds 10,100 Temporary Jobs; Penetration Rate Hits New High (via Staffing Industry Analysts)
The Temporary Help Services Sub-Sector added 10,100 jobs in June, which means that there are now almost 2.9 million temporary workers in the U.S. labor force. The temporary penetration rate, which is the percentage of temporary jobs in total employment, is now at 2.0677 percent, a new record high for the rate.
Procurement Outsourcing Market Sees 12 percent Growth for 2013 (via Shared Services Link)
The year 2013 was good for end-to-end procurement process outsourcing, according to Everest Group. They recorded notable growth of 12 percent for the year. The Procurement Outsourcing Annual Report 2014: Expanding New Horizons paper has predicted an additional 10to 12 percent growth for 2014, as well as contract size increases. Everest claims that the rise of value-added procurement outsourcing has allowed organizations to examine new dimensions to potential partners in outsourcing.
That’s it for this week. Be sure to bookmark the Beeline blog to stay informed about the industry trends and findings. We hope everyone has a great 4th of July weekend!