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MILWAUKEE (Profitable.com) Manpower Inc., (NYSE: MAN) world leader in innovative workforce solutions, says the increase in temporary employment is driving the U.S. economy forward as companies move to meet growing demand for their products and services. The economic recovery in the U.S. gathered pace in February — with the Bureau of Labor Statistics announcing that job gains occurred in temporary help, manufacturing, construction and several service-providing industries.
The unemployment rate fell again last month by 0.1 of a percentage point to 8.9 percent — its lowest level since April 2009 — as nonfarm payroll employment increased by 192,000 in February. With the jobs market showing improvement, employers now face the prospect of a war for talents as those individuals with in-demand skills become more sought-after and more difficult to find.
“We are definitely seeing improvements in the U.S. jobs market as companies begin to feel more positive demand for their products and services,” said Jeffrey A. Joerres, Manpower Inc. Chairman and CEO. “It looks as if employers have reached the limit of what they can do with current staffing levels, but are frustrated by an inability to find the right talent in the marketplace and beset by lingering doubt over the sustainability of the recovery.
“This is manifesting itself in companies looking to contingent and flexible workers to complement their existing workforce and help get their product out the door. Employers will still be forced to do more with a leaner workforce that has a dynamic mix of permanent and contingent workers as there will be no return to the pre-recession ‘old’ normal. In this new era, that Manpower has defined as the Human Age, employers need to tap into the passion, creativity, and innovation of their inner human potential in order to adapt to this new reality.”
Employment services added 29,000 jobs in February and within this sector, temporary employment showed a slight rise. The number of discouraged workers — those who have abandoned their job search because they believe there are no jobs available for them — dropped by 184,000 a year earlier to one million. Next week, Manpower releases its quarterly Manpower Employment Outlook Survey, which measures employers’ hiring intentions for the next three months and serves as a bellwether of labor market trends and activities.
About Manpower Inc.
Manpower Inc. (NYSE: MAN), world leader in innovative workforce solutions; creates and delivers solutions and services that enable its clients to win in the changing world of work. With over 62 years’ experience, the $19 billion company offers employers a range of services and solutions for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; development; outplacement; outsourcing and workforce consulting. Manpower’s worldwide network of 3,900 offices in 82 countries and territories enables the company to meet the needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world’s largest multinational corporations. The focus of Manpower’s work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. More information about Manpower Inc. is available at www.manpower.com.
In January 2011, at the World Economic Forum Annual Meeting in Davos, Switzerland, Manpower Inc. announced the world has entered the Human Age, where talent has replaced capital as the key competitive differentiator. Learn more about this new age at www.manpower.com/humanage.