According to the Staffing Industry Analysts (SIA), the staffing industry in 2022 is more resilient, more automated, more efficient, and is facing more demand than the pre-pandemic year of 2019. U.S. Bureau of Labor Statistics (BLS) reported an increase in total nonfarm employment of 467,000 in January, surpassing expectations of a 125,000 gain. Moreover, the labor participation rate surged to 62.2%, up 30 basis points from the prior month.
Also, job openings came to nearly 11 million in December, more than 4.6 million above the total unemployment level. Higher job additions should increase staffing requirements across industries, benefiting the staffing and employment services companies. Industrial staffing revenue is projected to grow 8% in 2022 to reach a record $36.70 billion.
