Revised Temp Hiring Forecast At 8.6%

Palmer forecast Q1 2015 revisedStaffing industry consultant G.Palmer & Associates has scaled back its growth forecast for temp employment. From an initial 10.5% growth for the first quarter of the year, the firm now predicts temp employment will increase by a still ambitious 8.6%.

The firm said the revision reflects recomputed numbers by the Bureau of Labor Statistics, which resulted in a lowering of the previously reported temp job counts.

Annually in February, the BLS recomputes the previous year’s numbers, making adjustments to overall totals, as well as to industry-by-industry counts. In this case, the changes to temp employment reduced the total increase by 82,500 jobs.

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Now, the Palmer firm’s recalculated forecast means the 1st quarter temp employment will average 2.932 million workers over the three months. That means temp agencies will need to bring on more than 70,000 more temps this quarter to hit the forecast target.

However, the quarter got off to a slow start, as the initial BLS report showed temp agencies shed 4,100 workers. That number is likely to be adjusted when the government issues its monthly report for February on Friday. Each monthly report not only is an initial snapshot of employment in the previous month, but it typically includes revisions to numbers from the previous two months.

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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