IT Temping Revenue Surges
IT temporary staffing firms saw 13.7 percent median revenue increase in the third quarter of 2006 over the same period last year, according to a report released on Dec. 13.
The report, issued by contingent workforce analyst firm Staffing Industry Analysts, of Los Altos, Calif., showed that temporary demand for white collar professions grew the most in Q3.
Financial and accounting firms saw 17.2 percent growth and technical and engineering firms experienced 14 percent growth.
Industrial and office/clerical temporary staffing firms had significantly less growth over the year, at 3.2 percent and 1.7 percent respectively.
"A shortage of higher skilled workers caused by the expanding economy, a growing energy sector and pent up demand for technology implementations led more firms to hire temporary workers in the third quarter of 2006," said Ron Mester, president and CEO of Staffing Industry Analysts, in a statement.
"At the same time, overall demand for high-skilled workers continues to grow as corporations across the country increasingly engage temporary workers to address their employment needs."
Indicating that the greatest labor demand resulting from the Sarbanes-Oxley Act of 2002 has already occurred, the 17.2 percent revenue growth in financial services and accounting firms actually fell short of expectations.
"The data in the third quarter report from Staffing Industry Benchmarking Consortium confirms the fundamental shift taking place in corporate America," Mester said. "More companies are hiring temporary labor to increase their flexibility and their profitability."
Slightly less than 2 percent of the total U.S. workforce is comprised of temporary workers, which is double the percentage of 1990.
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