Insights on the Recent Downturn in US Temporary Staffing 2024
Insights on the Recent Downturn in US Temporary Staffing 2024
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Insights on the Recent Downturn in US Temporary Staffing
- At a time when the overall US economy has been growing, the number of temporary workers supplied via staffing agencies has steadily declined over the past 24 months. This is an unusual divergence from typical patterns that has created an unsettling phenomenon for observers both inside and outside of the industry.
- SIA has identified a handful of overarching factors that are useful in understanding the recent decline in temp staffing, including a pullback from unsustainable levels, weakness in key client industries, caution and uncertainty among clients, and general labor shortages.
- Despite the recent downturn, there are reasons for optimism. The industry has proven exceedingly resilient over the past century, and across a variety of technology evolutions, including the advent of internet job boards, the widespread use of VMS technology, and now the introduction of AI.
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