Staffing Industry Statistics: Job Recovery Spreading

As the job market continues its slow revival, the staffing industry is likely to benefit from the increased employment rates. A few weeks ago it was reported that the jobless rate reached a four-year low. Now it appears job recovery is broadening, as employment spreads into previously lagging industries. So what sectors are booming, and what does this mean for staffing industry statistics and staffing companies on the whole?

The Staffing Industry Statistics

Despite the unemployment rate remaining at 7.9 percent, rising consumer wealth and a housing revival holds the potential to lift an array of industries. Housing starts are expected to approach one million, a sharp rise compared to the 781,000 in 2012 and 612,000 in 2011. This turnaround offers hope to the industries both involved in and supplying the housing industry. Construction, wood manufacturers, sawmills, furniture stores, architectural firms, and mortgage brokerages have all experienced increased employment. Other lagging industries that are expected to grow include charities and foundations that rely on the impact of consumer wealth, a variety of sectors influenced by higher office employment (janitors, call centers, etc.), and the media, impacted by a better advertising market that should fuel jobs gains. So how is the staffing industry affected by these developments?

The Impact On Staffing

As rising consumer wealth creates a trickle down effect that spreads into a variety of interrelated industries, the staffing industry can look forward to potentially growing employment markets. Employment is still largely temporary. In sectors such as construction, projects are often taken on a short-term basis. For staffing companies that supply workers to these industries there should be increased business as clients seek staff, especially in sectors where the work is short-term and temporary. Also, office jobs seem set to increase for charity firms and foundations, with a projected increase of 13.8 percent by 2015. This is just one example, but it is good to think about the ripple effect that will impact staffing as economic progress continues.

Staffing Industry Statistics Are Just the Beginning

Predicting all areas in which job growth will progress is difficult. The economy is still delicately poised and growth remains inconsistent and sporadic. Yet, as mentioned above, certain sectors continue to fall in and out of growth spurts, during which staffing companies should take every possible opportunity to provide and supply candidates to their clients. Keep an eye on markets, make sensible economic predictions about sector growth and development, and you should be able to capitalize on supplying labor to sectors where jobs are booming.