Temporary Staffing Industry is Booming

According to the federal Bureau of Labor Statistics, changes in the “temporary help services” category typically prefaces similar changes in non-farm payrolls around 5 months later, and since hitting its lowest point in August 2009, temp jobs have been on a steady incline.

In fact, according to the American Staffing Association, US staffing firms employed 2.8 million temporary and contract employees per day in 2011, which is up 8% since 2010. Moreover, the Bloomberg US Employment Services Index (made up of 17 staffing and recruiting firms) has increased by 15%. Additionally, the temporary staffing industry’s sales was $98.3 billion in 2011, which was 12.4% more than 2010 sales.

Richard Wahlquist , president and CEO of the American Staffing Association, recently said: “Companies no longer look upon temporaries as a gap measure. Now, the largest companies have a specific model of how much of their work force is going to be temporary.”

It’s important to keep in mind that as these agencies continue to grow, the need for staffing payroll factoring will also increase.

Click here to read the entire article: Temp Agencies Signal Economy’s Health, Direction.