The number of US temp jobs fell by 8,700 in July; however, June’s large decline of 48,900 temp jobs was revised to a 22,600 drop, according to data released today by the US Bureau of Labor Statistics.

Temp jobs totaled just above 2.7 million in July. On a year-over-year basis, they were down 5.19%.

The temp penetration — temp jobs as a percent of total employment — fell to 1.71% in July from 1.72% in June.

“Today’s jobs report, along with recent economic data, provide clear signs that the US economy and labor market are broadly and gradually cooling, which paves the way for the Federal Reserve to start lowering interest rates with the goal of putting the US economy on a path of sustainable growth,” Timothy Landhuis, VP of research at SIA, said.

“While the temporary staffing industry remains near a cyclical low point, and may remain under pressure in the near term,” Landhuis continued, “we note that an eventual return to sustainable growth in client industries would likely bring a substantial uptick in demand that staffing firms will need to be ready to meet.”

Article published by staffingindustry.com