More Temps Are Called But Will A Job Rebound Follow?

Although private, nonfarm payroll employment has been edging up in recent months, its May reading shows virtually no growth from its year-earlier level. But, as economist Brian M. Jones of Salomon Brothers Inc. points out, the aggregate payroll numbers mask an important development on the hiring front: Personnel firms, which are mainly providers of temporary help, registered a 12-month job gain of 159,000 in April, the latest month for which data are available (chart).

To continue reading this article you must be a Bloomberg Professional Service Subscriber.