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Staffing Industry Poised to Grow through 2022

Staffing industry growth receivable financing

A report by the Staffing Industry Analysts’ reports a promising picture for the long-range staffing industry in the U.S. “We forecast that the U.S. temporary help services market will increase at a compound annual rate of 4.6% between now and 2022. Underlying our forecast is our expectation of continued shifts away from the use of independent contractors due to misclassification enforcement, as well as the deepening selection of temporary workers in both professional and industrial occupations.

An example would be the utilization of temporary workers in healthcare occupations and construction occupations. This remains below the national average. As such, we believe improving adoption rates will facilitate future growth in these markets, “says Timothy Landhuis, senior research analyst at Staffing Industry Analysts.

There’s significant growth foreseen with higher-skilled jobs. This is according to the Bureau of Labor Statistics projections. Such projection is used in SIA’s analysis in industries such as healthcare, educational services, professional and business services.

The construction industry also expects the fastest in projected employment growth. In the meantime, there is an expectation for manufacturing, utilities, and the federal government to slow down.

Is your staffing company ready for the overall rapid growth?

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