As direct hire unemployment rates continue to decline, temporary bill rates show marked increases.
This further illustrates the corollary relationship between permanent employees and temporary workers, indicating the laws of supply and demand incorporate the entirety of “workers” in the US.
Temporary Worker bill rates move much more quickly and dramatically with changes in supply and demand than permanent employee wages, and are therefore a more accurate indicator of current market conditions.
Despite the recession, employee wages have continued to rise steadily over the past 36 months according to the Bureau of Labor Statistics, while the IQNdex shows that bill rates for temporary labor workers declined in response to the economic downturn and remained below 2008 levels as recently as November 2010.