The Temp Boom Is Here To Stay
Even with 5.5% unemployment and a recovering labor market, many companies depend heavily on temporary help. Temp outfits have added more than 1 million workers over the past three years, and their employment is rising at 17% annually. They are meeting the strong demand for temps in telecommunications, computers, heavy manufacturing, and banking.
The strength and longevity of the temporary-help boom has surprised even Mitchell S. Fromstein, CEO at Manpower Inc., one of the world's largest temp agencies. Fromstein says businesses such as his may have become an integral part of the hiring process. "Companies don't want to make a hiring mistake," says Fromstein, so instead of advertising permanent positions, they're choosing their full-time workers out of the temporary pool.