On Monday UPS announced that its projections show it will handle more parcel deliveries this holiday season than it did last year.
UPS will deliver about 400 million packages worldwide between Thanksgiving and Christmas.
Further UPS announced that it will hire 50,000 temporary workers to handle the greater volume.
Last week FedEx also reported that it anticipates shipping more this year.
FedEx said it will hire 14,000 additional part-time and temporary holiday workers.
Both UPS and FedEx are considered indicators of U.S. economic activity because their business booms and cools with the broader economy.
Post recession, labor markets usually improve first by showing a significant pickup in temporary labor, followed shortly thereafter by a return to full-time job growth.
This time is no different.
Monday, November 16, 2009
UPS and Fedex Need 64,000 Holiday Workers
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Hey GNE:
ReplyDeleteThe Professor and Mary Ann are at it again... Noriel Roubini and Meredith Whitney keep jumping up and down, insisting that everyone should be miserable and scared. I guess they miss the good old days of Q4 2008...
Just curious, do you know how many they hired last year as temps for the holidays? Thanks.
ReplyDeleteNever mind, I saw that neither company released stats for 2008. However, in 2007 UPS hired 60,000 workers. Too bad we don't have last year's data, that would have been helpful.
ReplyDeleteHi Joe,
ReplyDeleteYes, not surprising they are at it again. It is probably a bit unsettling for them that Q3 and Q4 of this year will be anything but the gloomy lackluster results they were predicting just a few months ago.
harry,
ReplyDeleteI agree it would have been helpful to know last year's number. I suspect that they did not announce a number because their forecasts were for much less help required. The good news is that we are now back to levels of temp hiring similar to the levels of 2 years ago.