In the wake of our recent recession, the demand for temporary and contract workers is on the rise. Businesses are hiring contingent staff to manage the uncertainty that comes when recession ends and recovery begins – because, quite simply, it’s easier to let temporary and contract workers go if things slow back down.
During this time of transition, staffing firms will continue to provide vital, flexible workforce solutions as our economy rebounds. To provide some perspective on the size and scope of our industry, here are a few key facts and statistics from the American Staffing Association:
- The number of temporary workers in the U.S. on any given day jumped to an average of 2.6 million in the third quarter of 2010.
- This jump is 24.9% more staffing employees per day than in Q3 2009 and an increase of 8.1% in average daily staffing employment over Q2 2010.
- Staffing employment in January 2011 was 13% higher than in the same month last year, according to the ASA Staffing Index.
- Staffing sales in the third quarter of 2010 totaled $18.1 billion—a 35.6% increase over the same period the previous year. This surpassed Q2 2010’s previous record high as the largest year-to-year percentage increase since ASA began tracking industry sales in 1992.
Why You Should Pay Attention to Staffing Industry Data
Keep an eye on temporary employment data during the coming months, as these numbers are generally considered to be a coincident indicator for overall employment. This means that changes in temporary help employment tend to forecast subsequent changes in overall employment and coincide with changes in economic activity. Why? As I mentioned earlier, many companies use temporary staffing to quickly match their staff levels to fluctuating demands for their products and services.
If you know what’s happening in our industry, you’ll have an excellent picture of our economy’s overall health.
For more information on today’s staffing industry, follow these links:
Snelling Staffing Services is a proud member of the American Staffing Association (ASA), which promotes legal, ethical and professional practices for the staffing industry.