The Yoh Index of Technology Wages, a benchmark of wages for temporary workers in the information technology, life sciences, engineering, healthcare, aerospace and defense fields, found that wages for temporary workers increased in the fourth quarter of 2010 after a long slump.
Hourly wages rose 4.3 percent from November to December following consistent declines throughout the third quarter of 2010. Although year-over-year comparisons indicate decline, the spike in wages is still encouraging because it came in December, which is when the hiring of skilled workers usually slows down.
The Yoh Index, which represents employer demand for highly skilled workers, was positive for the fourth quarter after falling all three months of the third quarter.
"Temporary workers blunt the risk of a still uncertain economy by providing just-in-time employees that can be more easily managed to balance indefinite customer demand," said Lori Schultz, president of Yoh.
Schultz added that the wage increases of skilled temporary employees indicate the overall direction of the economy, particularly early in the recession recovery process.
The authors of the Yoh Index recommend that businesses invest in highly skilled temporary employees, as they can use their expertise to help companies develop a strategy to stimulate growth.
