Staffing Employment Trends – February 2011
As the staffing industry enters 2011, the economic report remains positive. The Economic Cycle Research Institute (ECRI) projects a good outlook for the first six months of 2001, due to factors such as an increase in consumer spending and the accelerated GDP growth in the fourth quarter of 2010.
There was a slight increase in unemployment claims for the month of January, but according to the Staffing Industry Analysts (SIA) it is not a cause for concern. The staffing industry gained 36,000 new jobs in January. The areas which saw the highest job gains for the month were manufacturing and retail, with areas such as construction continuing to report employment declines as reported by the Bureau of Labor Statistics (BLS).
There continues to be a partial recovery in the trend of number of hours worked, which continues to be a positive sign for the staffing industry as a whole. Another positive sign for overall employment is the downward trend in college graduate unemployment. This coupled with the decreases in number of lay-offs shows that new jobs continue to be added into the economy.