August 28, 2016

Unemployment Rate Falls to Lowest Level Since 2009

The increase in temporary employment is helping the drive the U.S. economy forward as companies move to meet growing demand for their products and services, according to a new report from Manpower.

The unemployment rate fell again last month by 0.1 of a percentage point to 8.9 percent — its lowest level since April 2009 — as nonfarm payroll employment increased by 192,000 in February.

"We are definitely seeing improvements in the U.S. jobs market as companies begin to feel more positive demand for their products and services," said Jeffrey A. Joerres, Manpower Inc. Chairman and CEO.

"It looks as if employers have reached the limit of what they can do with current staffing levels, but are frustrated by an inability to find the right talent in the marketplace and beset by lingering doubt over the sustainability of the recovery.”

“This is manifesting itself in companies looking to contingent and flexible workers to complement their existing workforce and help get their product out the door. Employers will still be forced to do more with a leaner workforce that has a dynamic mix of permanent and contingent workers as there will be no return to the pre-recession ‘old’ normal.”

Employment services added 29,000 jobs in February and within this sector, temporary employment showed a slight rise. The number of discouraged workers — those who have abandoned their job search because they believe there are no jobs available for them — dropped by 184,000 a year earlier to one million.

About Mike Sachoff 189 Articles
Mike Sachoff is a staff writer for SmallBusinessNewz.

4 Comments on Unemployment Rate Falls to Lowest Level Since 2009

  1. I think the American economy is far worse than the government is willing to admit. It is good to hear that the unemployment rate is decreasing. But does the rate include those who have already quit looking for jobs or who have used up all of their benefits?

  2. All in all, we see encouraging signs of progress in labor market conditions and expect to see much better payroll performance in coming months.

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