Staffing Employment Trends – April 2011
Staffing Industry Analysts (SIA) presented the April Staffing Industry Report webinar on April 12, 2011. The Economic Cycle Research Institute (ECRI) reports that the short term economic outlook remains positive. The manufacturing employment index is the highest it’s been since 1973, resulting in highly favorable condition in the manufacturing sector. Unemployment rates continue to decrease slowly, to 8.8%, with initial unemployment claims reaching normal levels.
216,000 new jobs were added in March, including 50,000 new jobs in the temporary jobs sector since January 2011. Temporary help continues to be one of the fastest growing industries. Companies, now more than ever, are using temporary staffing to avoid high costs of overtime.
The GDP growth in the first quarter of 2011 continues to be lower than projected. However, favorable economic trends make second quarter GDP growth predictions higher than Q1. One negative spot in the overall economic forecast was the continued losses in state and local government jobs.