STAGNANT

Firms Bringing on More Temps

According to jobs report.

There’s work to be done, but it isn’t leading to good new jobs. That’s the story behind the numbers in Friday’s jobs report. The report indicates that rather than hiring, firms are relying on existing workers and bringing in temps, which helps explain why the average workweek increased for the first time since February. While the increase in work does indicate that demand is at least holding steady in the face of economic slumps just about everywhere, it’s also a sign that firms don’t have enough confidence in this trend to expand their payrolls permanently. As one economist put it, “[T]here are so many risks out there that businesses don’t want to commit to hiring full-time employees.”