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Forecast: US temporary staffing industry to grow 5%

September 17, 2014

The U.S. temporary staffing industry will grow 5 percent in 2014 and 6 percent in 2015 to reach a market size of $115.0 billion in 2015, according to the “U.S. Staffing Industry Forecast: September 2014 Update” released by Staffing Industry Analysts.

The U.S. place and search industry will expand 7 percent in 2014 and 10 percent in 2015, as the economy improves.

Combining temporary staffing and place and search, the forecast calls for the total U.S. staffing industry to grow 6 percent in both 2014 and 2015, reaching $132.1 billion.

“Unless there is a negative shock to the economy in 2015, we are projecting a year of solid growth across all segments of the U.S. staffing industry,” said Senior Research Analyst Timothy Landhuis, who wrote the report. “Our 2015 forecast anticipates slightly faster revenue growth rates in most segments as the U.S. economy shifts into a higher gear.”

The report found industrial, locum tenens (physician), engineering, clinical/scientific, marketing/creative, and education staffing segments are near or at record levels, after adjusting for inflation, indicating high volume of demand in these markets.

In contrast, the following segments in 2014 will be significantly below their historic peak levels: Office/clerical, travel nurse, per diem nurse, finance/accounting, legal, direct hire and retained search.

“While volume of demand is lower than in the past, the silver lining for these segments is there may be growth potential in these segments if previous demand conditions return,” the report said.

Corporate members can access the full forecast by clicking here.