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The U.S. staffing industry will grow 6 percent in both 2013 and 2014, according to the “U.S. Staffing Industry Forecast: April update” released by Staffing Industry Analysts today. This represents a deceleration when compared with last year as the industry nears its historical peak.
“We forecast the U.S. temporary staffing industry will grow at 6 percent in 2013,” said Research Analyst Timothy Landhuis, who wrote the report. “While at first glance this growth number may not seem as high as in the past few years, we are also later in the economic cycle and the comparison base is much larger. We estimate the U.S. temp staffing market is about $100 billion, so 6 percent growth in 2013 translates to $6 billion in new orders, which is a significant increase for the industry.”
The industry had grown by 7 percent in 2012 and 13 percent in 2011.
Landhuis said the fastest-growing individual segment of staffing in 2013 will be healthcare, which will grow by 9 percent.
“Growth drivers include continued recovery from recession declines as well as a boost in demand from an expected increase in the population who will have health insurance,” he said. “The second-fastest percentage growth segments in 2013 are information technology and marketing/creative temporary staffing. Both of these segments are benefiting from the explosion in Web, mobile and social media technologies.”
Total staffing revenue — which includes temporary staffing as well as place & search, PEO and outplacement — is expected to growth 6 percent to $139.4 billion in 2013.
Total revenue rose by 7 percent in 2012, lower than Staffing Industry Analysts’ earlier estimate of 9 percent. The cause was slower-than-expected growth in industrial, IT and engineering staffing caused in part by economic and fiscal uncertainty in the second half of 2012.
Corporate members can access the full forecast by clicking here.