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Two different pictures of the economy

Posted on July 18th, 2014 Read time: 2 minutes

CNN Money reports that the labor force is in a complicated situation. It just might be the case that temporary staffing will help alleviate some of this burden. The White House expects that labor force participation will reach a plateau and stay there for a certain time, possibly even getting smaller. The problem is that baby boomers are leaving the workplace and many younger college graduates are having trouble becoming employed. A potential solution to this would be if those young people become temporary workers.

Being a temporary worker for an employer of record isn't the same as having a full-time job, but it does allow young people to get money as they search for permanent employment. Temps get to work with many different companies, gaining experience and job skills in a way that makes them more attractive to businesses.

The LEI increases
The Conference Board Leading Economic Index (LEI) has gone up, indicating that these predictions for a turbulent future are still only guesses. The index currently stands at 102.2, which is a 0.3 increase in June. Two months prior, there was an increase of 0.7 percent in May and 0.3 percent in April.

"The LEI shows the pace of economic activity continued to expand moderately through June," said Ken Goldstein, economist at The Conference Board. "Stronger consumer demand driven by sustained job gains and improving confidence remains the main source of improvement for the U.S. economy. In addition to a stronger housing market, more business investment could also provide an upside to the overall economy."

Those seeking to expand their business could also benefit from temporary workers. In fact, hiring entire departments using outsourcing techniques can help companies save money through being streamlined, adding to efficiency. Some companies outsource their HR services, while others outsource other roles in the company.

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