According to the Bureau of Labor Statistics, the cost of employment is rising steadily. Costs increased 2% over 2013. In 2012 they rose 1.7%.
This steady trend of increasing employment costs is a topic we discussed in November.
As hiring employees becomes more costly, companies are increasingly feeling the pressure to turn to temporary staffing companies to help the meet their needs.
On a more positive note, employment grew in the month of January in construction, manufacturing, wholesale trade, and mining.
Also, the number of long term unemployed dropped 232,000 in January. When someone is classified as “long term unemployed” it means that they have been out of work for 27 weeks or more.
Overall, the numbers have not changed too drastically in the past month, and 2013’s numbers were fairly similar to 2012. However, they are rising slowly but surely and it is something we should all be aware of.