Randstad Employment News Brief: October 2012
Read the full October 2012 Employment News Brief and other workforce insights at www.randstadusa.com/workforce360.
In one of the most important and highly anticipated jobs reports of the year, the October employment situation kicks off the fourth quarter on a high note with 171,000 job gain and 7.9 percent unemployment rate. These latest job numbers are an indication the U.S. labor market may be embarking on a sustained recovery, with more companies loosening their reigns a bit to keep up with demand and productivity. Private-sector employment added 184,000, largely led by professional and business services (+51,000), healthcare (+31,000) and retail trade (+36,000). The number of temporary jobs increased by 13,600, or 0.5 percent, to 2.54 million in October. Year-over-year, the number of temp jobs rose by 182,400. Businesses appear to be adding consistently to their payrolls, even amidst the impending so-called fiscal cliff, which unless Congress acts, will usher in a host of tax increases and spending cuts.