US Adds 6,200 Temp Jobs in October, Total Jobs Rise by 210,000

The US added 210,000 nonfarm jobs during the month, falling short of expectations. Job growth has averaged 582,000 per month so far this year. The US Bureau of Labor Statistics also reported the number of temporary jobs in the US grew modestly, up by 6,200.

In addition, the gains in temporary help services employment for September and October were revised upward. September’s gain was revised to 14,900 jobs from 6,100, while October was revised to a gain of 46,400 jobs from 41,100. With these revisions, temporary help services employment in October was 14,100 higher than previously reported.

US temp jobs totaled more than 2.79 million in November. The temp penetration rate — the number of temp jobs as a percent of total employment — remained at 1.88% in November, unchanged from October.

“Despite disappointing overall job growth, this month’s jobs report was positive in the upward revisions to prior months, the acceleration of temporary help growth and an increase in labor force participation,” said SIA President Barry Asin.

So far, the number of total nonfarm jobs has increased by 18.5 million since the trough in April 2020 but is down by 3.9 million, or 2.6%, from its pre-pandemic level in February 2020, according to the BLS.

The BLS reported notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Employment in retail trade declined over the month.

Nine of the major industry groups gained jobs for the month. The group with the largest gain was professional services, which includes temporary help; it added 83,800 jobs. Transports and warehousing followed with a gain of 49,700 jobs, and manufacturing gained 31,000 jobs.

Compared to pre-pandemic levels, employment in manufacturing is now down 253,000 jobs, or 2.0%, from February 2020. Employment in professional and business services overall is 69,000 below its level in February 2020.

In November, the US unemployment rate was 4.2%, a notable drop from 4.6% in October. The unemployment rate for those with bachelor’s degree and higher edged downward to 2.3% in November from 2.4%.

More information is available in the full SIA US jobs report.

Original Article: https://www2.staffingindustry.com/Editorial/Daily-News/US-adds-6-200-temp-jobs-in-October-total-jobs-rise-by-210-000-59960