US la­bor mar­ket means fewer tem­po­rary jobs

The Pak Banker - - Front Page -


Tem­po­rary em­ploy­ment is con­tribut­ing less to job cre­ation in the U.S. af­ter buoy­ing the la­bor mar­ket in the first six months of the year, a sign em­ploy­ers are more con­fi­dent about the dura­bil­ity of the eco­nomic ex­pan­sion.

The monthly change in the num­ber of peo­ple on payrolls of tem­po­rary-help ser­vice busi­nesses av­er­aged 2.2 per­cent of the monthly gains in to­tal non­farm payrolls dur­ing the July-Oc­to­ber pe­riod, well be­low al­most 19 per­cent in the first half of 2012, based on sea­son­ally ad­justed data from the La­bor Depart­ment. The U.S. has lost al­most 4.3 mil­lion po­si­tions since non­farm pay­roll em­ploy­ment peaked in Jan­uary 2008, based on Depart­ment of La­bor fig­ures. The re­sult is a "dou­ble pos­i­tive" for the econ­omy: more jobs and more of them full-time.

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