Staffing Agency Industry Analysis
Over the next five years, the Staffing agency industry will grow 3% to reach over $108 billion. This growth is mostly due to the growing U.S. labor market and overall economic improvements.
The number of businesses in the United States is projected to grow an annualized 3.1% over the five years, boosting the number of potential clients available to industry operators.
Corporate profit is also anticipated to grow an annualized over the next five years, driving businesses to expand operations. As corporate profit increases, businesses are projected to become more comfortable hiring full-time employees rather than temporary ones. Conversely, the general improvement in economic conditions is expected to drive workers who previously left the labor force to begin seeking new opportunities. Some of these workers will likely take temporary positions in hopes of developing them into permanent positions; thus, the total number of temporary employees will increase.