FACTORING BLOG

Staffing Stats

Insights on trends, market dynamics, and industry innovations

Average Hourly Earnings

According to the Bureau of Labor Statistics’ (BLS) January 10^th report, the average hourly earnings for all employees in the United States stands at $35.69, up from $35.46 two months prior. This average includes all industries, skills, and employee levels. Over the past 12 months, average hourly earnings have risen 3.9%. Minimum wage has increased or will increase in 23 states in 2025, which is likely to cause a ripple effect and impact wages all around. See the Map of 2025 Minimum Wage Increases.

Contract Staffing Employment

According to the American Staffing Association contract staffing employment for the four weeks ending December 29^th, 2024, was down 8.5% year over year with a staffing index of 84.

In June of 2006 ASA established an index baseline of 100.

Temporary Help Penetration Rate

According to Staffing Industry Analysts, November’s temp penetration rate (temp jobs as a percent of total employment) was 1.66%, unchanged from the previous month’s reading of 1.66%. Temporary help penetration rate has historically been around 2% of total employment.

“Data for November and December suggest that the long-awaited stabilization in overall temporary help volumes may finally be here,” said Timothy Landhuis, VP of research at SIA. “While trends in manufacturing remain mixed, overall job gains appeared solid in December across most other sectors of the US economy, which we believe should provide a tailwind for staffing moving into the new year.”

GDP Projection

Strong end to 2024, uncertain beginning of 2025. Inflation is expected to stabilize at the Fed’s 2% target in Q4 2025, later than the original Q2 2025 estimate. Read the forecast here.

Job Openings

According to BLS, on the last day of November the number of job openings was at 8.1 million.
The region with the largest number of open jobs is the South, comprising of the following States: Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia. The industries with the largest number of open jobs include healthcare and social assistance, real estate and rental/leasing, and finance and insurance. Read the full report here.

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