Temp staffing growth rate slowing down
Posted on April 3rd, 2013 Read time: 1 minutes
While many companies have been increasing their employment of temporary workers within recent years, new numbers report the growth rate in the staffing industry is decelerating year-over-year.
Staffing Industry Analysts, an online contract worker news site, found a 7 percent drop off from contract agencies' revenue growth rate compared to February 2012. Although the year-over-year rate is decreasing, the month-over-month data shows a rise in industry improvements. The monthly developments tend to be fixed with seasonal hiring practices, but February and March typically see a boost in the low numbers from November and December, according to research analyst Robert Balicki.
"Pulse results are worrisome," Balicki told Staffing Industry Analysts. "This pattern was also seen in most other segments tracked. Engineering/design and direct hire stood out as bright spots."
However, the growth rate might increase as businesses begin bringing more workers onto payroll for the summer season and as companies' production schedules continue to increase and demand the need for employing staffing firms. Hiring temporary employees to fill holes within the workforce may continue to climb as organizations look for ways to keep up with industry needs and to find new permanent workers.
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Posted on April 3rd, 2013 Read time: 1 minutes
While many companies have been increasing their employment of temporary workers within recent years, new numbers report the growth rate in the staffing industry is decelerating year-over-year.
Staffing Industry Analysts, an online contract worker news site, found a 7 percent drop off from contract agencies' revenue growth rate compared to February 2012. Although the year-over-year rate is decreasing, the month-over-month data shows a rise in industry improvements. The monthly developments tend to be fixed with seasonal hiring practices, but February and March typically see a boost in the low numbers from November and December, according to research analyst Robert Balicki.
"Pulse results are worrisome," Balicki told Staffing Industry Analysts. "This pattern was also seen in most other segments tracked. Engineering/design and direct hire stood out as bright spots."
However, the growth rate might increase as businesses begin bringing more workers onto payroll for the summer season and as companies' production schedules continue to increase and demand the need for employing staffing firms. Hiring temporary employees to fill holes within the workforce may continue to climb as organizations look for ways to keep up with industry needs and to find new permanent workers.
