Monthly Labor Review (01/12) Richard Henderson

The U.S. Bureau of Labor Statistics has released its latest projections, including an employment annual growth rate of 1.3% for the 2010-2020 period. The employment services industry (which is mostly temporary help services) is projected to add 631,300 jobs during this period—an annual rate of increase of 2.1%—and reach 3.3 million by 2020, placing this industry among those with the largest projected employment growth.

The employment services industry also is projected to enjoy a real output growth rate of 3.8% annually, increasing by $71.6 billion, to reach $229.3 billion by 2020—compared to a 2.9% real output growth rate for the overall economy. The demand for information technology, health care, and temporary help services is driving growth in this industry, according to the BLS.