FACTORING BLOG

Staffing Stats

Insights on trends, market dynamics, and industry innovations

Average Hourly Earnings

According to the Bureau of Labor Statistics’ (BLS) Sept 4th report, the average hourly earnings (through July) for all employees in the United States stood at $35.07.   This average includes all industries, skills, and employee levels.   While this number has flattened in the past few months, it’s still up 3.6% year over year. 

Contract Staffing Employment

According to the American Staffing Association, contract staffing employment for the four weeks ending August 25th was down 12.1% year over year with a staffing index of 89. 

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

Temporary Help Penetration Rate

GDP Projection

According to The Conference Board, real GDP increased at a rate of 2.8 percent quarterly annualized in the second quarter of 2024. This was due to increases in consumer spending and business investment.  For the third quarter, they predict 0.6% annualized as well as a lackluster Q4 with a pace of 1% annualized. 

Job Openings

According to BLS, the number of job openings continues to decline, now at 7.7 million, down 1.1 million from this time last year.   

Healthcare, professional business services, and government continue to drive the new job openings. 

Where are the new jobs? Employment is up in 61 Metro Areas!

The largest over-the-year percentage gains in employment occurred in College Station-Bryan, Texas (6.0 percent)

See detailed data by location here.

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