What The Statistics Show
Total U.S. staffing market will rise by 3% in 2019 to reach $152 billion.
Revenue in the US temporary staffing market is projected to grow 3% this year $152 billion in revenue, according to the new “US Staffing Industry Forecast” released by Staffing Industry Analysts.
SIA also noted a headwind created by a scarcity of labor supply.
The report states seeing broadly (but not universally) reported signs of bill rate increases. Bill-rate increases supporting revenue growth and helping to offset any declines in volume due to labor scarcity.
Projected growth forecast is 2.4% for 2019 and 1.9% for 2020.
The Staffing industry has been growing nearly 2x faster than the economy, on average, since the end of the Great Recession. When the economy is advancing, staffing industry growth outpaces GDP.
Research proves that temporary and contract staffing employment is a coincident economic indicator of GDP.