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March 11, 2024
US contingent workforce employment was down 8.5%, in response to the February 2024 Contingent Workforce Knowledge Evaluation by Magnit, a supplier VMS, MSP and different providers. Pay fell as effectively. US common hourly pay for the contingent workforce fell by 2.2%.
Magnit’s report in contrast the three months from December 2023 to February 2024 to the three months from September 2023 to November 2023.
Some segments did higher than others. Monetary providers noticed hiring quantity rise by 32% whilst hiring quantity in know-how fell 14.1%. Equally, pay was down 9.5% in manufacturing however up 25.6% within the client services section.
Individually, Magnit’s report discovered that ladies are influencing job progress and accounted for 61% of fills in 2023 and 67% within the preliminary months of this 12 months.
“We’re seeing a surge of ladies impacting new hires within the labor market,” Dustin Burgess, senior VP of strategic advisory at Magnit, stated in a press launch.
“The uptick we’ve witnessed up to now couple years could also be attributed to ladies reentering the workforce after assuming main caregiver roles throughout the pandemic,” Burgess stated. “Within the present tight labor market, employers that embrace flexibility and advantages catered to all genders are poised to leverage this development for sustained progress.”
Listed below are modifications in US contingent workforce employment knowledge by business throughout the timeframe lined by the report.
- Expertise
- Hiring quantity: -14.1%
- Layoffs: -57.1%
- Voluntary terminations: -58%
- Monetary providers
- Hiring quantity: +32%
- Layoffs: -76.7%
- Voluntary terminations: -65.5%
- Healthcare
- Hiring quantity: -13.3%
- Layoffs: -54.8%
- Voluntary terminations: -46.4%
- Shopper services
- Hiring quantity: -39.7%
- Layoffs: -75.8%
- Voluntary terminations: -73%
- Manufacturing
- Hiring quantity: +23.6%
- Layoffs: -61%
- Voluntary terminations: -31.8%
- Life sciences
- Hiring quantity: +15.5%
- Layoffs: -15.4%
- Voluntary terminations: -40.8%
Listed below are modifications in US contingent workforce annual pay knowledge by class throughout the timeframe lined by the report.
- Expertise: +16.9%
- Monetary providers: +10.6%
- Healthcare: -6.3%
- Shopper services: +25.6%
- Manufacturing: -9.5%
- Life sciences: +4.4%
Magnit makes use of knowledge from a wide range of exterior and inside sources, and the info is aggregated, cleansed and anonymized.
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