Temp hiring falls for 6th straight month

Trend raises concern because last significant decline in temporary hires preceded a major drop in overall employment, according to a news report.


NEW YORK (CNNMoney.com) -- The number of temporary workers hired has fallen each of the past six months, and was down 2 percent in July from the start of the year, according to a news report Monday.

Major temporary employment agencies also saw revenue declines, said the Wall Street Journal. Manpower (Charts, Fortune 500), the world's second-largest staffing firm, saw U.S. revenue fall nearly 9 percent in the second quarter as demand fell, said the report.

Kelly Services (Charts, Fortune 500), which provides companies with clerical and industrial workers, saw a 6 percent decline in revenue in the quarter, according to the Journal.

In 2001, a fall in temporary employment occurred roughly a year before a drop in overall employment, said the Journal. Economists believe that businesses usually cut temporary workers first before dismissing full-time employees. Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.