An overview of temporary staffing industry

Staffing Industry Analysts have just released the latest forecast report for the U.S. staffing industry that projected that the year – 2015 would be another solid year for the IT temporary staffing market with an expected 7% revenue growth that result in a market size of $27.8 billion (which is 24% of the overall temporary staffing market). However, the analysts do predict that in 2015 the temporary IT staffing market will remain below its peak of 2000 when adjusted for inflation. 

In addition, the U.S. temporary staffing industry is expected to grow by 5% by the end of 2014 and by 6% in 2015 reaching a market size of $115 billion according to the “U.S. Staffing Industry Forecast: September 2014 Update” that is released by Staffing Industry Analysts. The forecast further states that combining the temporary staffing and place and search, the total U.S. staffing industry is to grow by 6% in both 2014 and 2015 with a market size of $132.1 billion. The report finds that with the U.S. economy shifting into a higher gear most segments would have a slightly higher revenue growth in 2015.

The industries or staffing segments that are near or at record levels include engineering, clinical, scientific, marketing, creative, and educational. There are staffing segments that are performing below their historic peak levels and these include the office/clerical, travel, nurse, finance/accounting, legal, direct hire and retained search. In spite of some bottlenecks in the temporary staffing industry, the industry has remained healthy all through the recession and with these factors in mind, it is important for corporations understand why this trend is important and how to monopolize on this opportunity. In addition, due to the Affordable Care Act and higher taxes companies are responding to uncertainty by turning to temporary staffing agencies for their staffing needs.

The reason for the demand for temporary staffing service influx is because the traditional business cycle is now discordant and post-recession circumstances are resulting in pushing for temporary workers and therefore there still exists problems pertaining to the way on how these staffing positions are filled. Therefore, the answer to the rising demand for staffing in the face of an improving economy is to hire the services of temporary staffing agencies.