Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Temporary-Help Record Aids U.S. Staffing Firms: Chart of the Day

Chart of the Day

June 13 (Bloomberg) -- Record reliance on temporary employees in the U.S. will be a help for the companies that provide them, according to Mark S. Marcon, a Robert W. Baird & Co. analyst.

As the CHART OF THE DAY illustrates, last month’s employment report showed interim help represented the largest proportion of the workforce since at least the 1980s, according to data compiled by the Labor Department.

Staffing companies accounted for 2.06 percent of nonfarm payrolls, or 2.86 million workers, in May. The percentage rose for the 19th time in the past 20 months, with last October as the lone exception, and set a fourth straight monthly record.

“Temp help services growth continues to materially outpace overall employment growth,” Marcon wrote in a report three days ago. The number of employees increased 8.5 percent last month from a year earlier.

The percentage, or penetration rate, was among more than a dozen indicators that the Milwaukee-based analyst cited in his research. As a group, they pointed to “continued solid growth for temp and recruiting services,” he wrote.

Marcon recommends buying shares of ManpowerGroup Inc. and Robert Half International Inc., the two largest U.S. staffing companies by market value. He also has the equivalent of buy ratings on Kforce Inc., Korn/Ferry International and On Assignment Inc.

To contact the reporter on this story: David Wilson in New York at dwilson@bloomberg.net

To contact the editors responsible for this story: Chris Nagi at chrisnagi@bloomberg.net Jeremy Herron, Lynn Thomasson

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.