1. Economic Update
January 2013
Michael Hespen
National Account Executive

2. Job Categories: A Historic Look Wall Street Journal 3rd Qtr. GDP: 3.1% (3rd Estimate)
The Unemployment Rate Changed for November (BLS)
The Bureau of
Labor Statistics
made yearly
adjustments to
the
unemployment
rate. This
adjustment
only impacted
July and
November.
Sources: Bureau of Labor Statistics, Wall Street
Journal, Bureau of Economic Analysis

3. Temp Penetration Rate: 1.90% 0.1% Job Loss/Gain: + 155,000 Jobs Unemployment Rate: 7.8%
I
Change from Previous
Number of people employed as a temporary employee Job Gains Month Unemployment Rate: Bachelor’s Degree or higher
divided by total non farm payroll employment Leisure & Hospitality 31,000
Construction 30,000
Oct Nov Dec
Temp Employment Manufacturing 25,000
Temporary help services lost 600 jobs. Professional & Business 3.7% 3.9% 3.9%
19,000
Services
Why is the Temp Penetration Rate Important? Financial Activities 9,000
“Temporary Help Employment is a Leading Indicator for
Education & Health
Nonfarm Employment—Staffing job trends lead 65,000 Nonfarm Payroll –
Services Jobs Added/Lost
nonfarm employment by three months when the Job Growth Details
- Education 10,300
economy is emerging from a recession and by six
- Healthcare 44,500 Private Sector 168,000
months during periods of normal economic growth.”
American Staffing Association - Social Assistance 10,500 Government Sector -13,000
Change from Previous
Total 155,000
Job Losses Month
Government -13,000
Retail Trade -11,300
Source: Bureau of Labor Statistics,
American Staffing Association

4. Unemployment Rate Projections GDP Projections
Survey of Economists (Wall Street Journal) Survey of Economists (Wall Street Journal)
/
Labor Market Recoveries Putting 2012 in Perspective
(Business Insider – Chart of the Day) (Wall Street Journal)
Source: Wall Street Journal, New York Times
Please note: WSJ Projections were released prior to the BLS report,
Business Insider Chart of the Day, Calculated Risk Blog