Unemployment Rate Down in January 2006
By: Matt, February 10th, 2006
The first month of the new year showed great promise in the staffing industry and for the overall employment picture. According to the U.S. Bureau of Labor Statistics, temporary staffing firms added 14,300 jobs to their payrolls during the month, a 7.6% increase over January 2005 and the highest rate of growth for the month since January, 2000. Total employment within the temporary staffing industry grew to 2.65 million, the highest for a single month since the BLS began tracking such figures.
In addition, the BLS reported an unemployment rate of 4.7% in January, down from 4.9% in December, 2005 and the best rate since July 2001’s 4.6% unemployment rate. Employment growth came primarily in construction, mining and service industries, according to Kathleen P. Utgoff, the BLS commissioner.
Within the services industry, healthcare and social assistance rose by 38,000 in January, while ambulatory health services added 15,000 jobs. The financial services and activities industry added 21,000 jobs during the month after a month of little growth in December. Business services employment also grew during the month, adding 24,000 jobs after a total increase of 515,000 in 2005.
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