3. US Employment Situation Number of people employed as a temporary employee divided by total non farm payroll employment June 2009 Recession Officially Ended July 2009 Temp Penetration Trend Turns Positive Oct 2009 1 st Job Growth >100,000 (Household Survey) Nov 2009 1 st Job Growth (Payroll Survey) Temp Employment Temporary help services lost 2,300 jobs. Why is the Temp Penetration Rate Important? “ Temporary Help Employment is a Leading Indicator for Nonfarm Employment—Staffing job trends lead nonfarm employment by three months when the economy is emerging from a recession and by six months during periods of normal economic growth . ” American Staffing Association Temp Penetration Rate: 1.72 % no change +. 02% Job Loss/Gain: +244,000 Jobs Unemployment Rate: 9.0% +0.2% I Unemployment Rate: Bachelor’s Degree or higher Source: Bureau of Labor Statistics, American Staffing Association Dec Jan Feb March April 4.8% 4.2% 4.3% 4..4% 4.5% Nonfarm Payroll – Job Growth Details Jobs Added/Lost Private Sector 268,000 Government Sector -24,000 Total 244,000 Job Gains Change from Previous Month Retail Trade 57,100 Professional & Business Services 51,000 Leisure & Hospitality 46,000 Manufacturing 29,000 Construction 5,000 Financial Activities 4,000 Education & 49,000 Health Services - Education 7,300 - Healthcare 37,300 - Social Assistance 4,500 Job Loses Change from Previous Month Government -24,000
4. Projections GDP Projections Survey of Economists (Wall Street Journal) Job Engine Shifts Into High Gear U.S. Payrolls Grow at Swiftest Rate in Five Years Despite Rise in Unemployment Rate to 9.0% ( Wall Street Journal) Unemployment Rate Projections Survey of Economists (Wall Street Journal) Source: Wall Street Journal, CareerBuilder Please note: WSJ Projections were released prior to the BLS report Unemployment Rate Projections Survey of Economists (Wall Street Journal)