Labor Forecast Predicts 5.6% Decrease in Demand for Temporary Workers in 2023 Fourth Quarter
NEWPORT BEACH, CA, Oct. 27, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire — Demand for temporary workers in the United States is expected to decrease 5.6% on a seasonally adjusted basis for the 2023 fourth quarter, when compared with the same period in 2022, according to the Palmer Forecast™, released today. Demand for temporary workers has been softening since the fourth quarter of 2022.
- Demand for temporary workers has been softening since the fourth quarter of 2022.
- The Palmer Forecast™ indicated a 4.3% decrease in temporary help for the 2023 third quarter.
- Actual results as reported by the Bureau of Labor Statistics (BLS) decreased by 5.5%, reflecting GDP growth below expectations.
- To put this in perspective, there were 9.4 million jobs lost in 2020, and 2.1 million total jobs added for 2019.