How Will Employment Trends Affect the Staffing Business?
American Staffing Association researchers, Nadareishvili and Poole, analyzed the latest U.S. Bureau of Labor Statistics job growth projection and revealed the trends in job growth by sector and occupational group through 2026. The tight labor market, luke-warm economic growth and a rapidly aging population will continue to affect employment according to their observations and specifically job growth. How can staffing businesses respond? The top five sectors that are projected to be the best job growth potential are:
- health care and social assistance–growth factors: aging population, longer life expectancies and growing rates of chronic conditions
- professional and business services including employment services–growth factors: continued demand for information technology services and consulting as well as staffing services
- state and local government–growth factors: enrollment rate increases in postsecondary education
- leisure and hospitality–growth factors: increasing use of technology offset by growth in food services and drinking establishments (food and beverage industry)
- retail trade–growth factors motor vehicle and parts dealer industry growth
Employment in the professional and business services sector is projected to grow from 20.1 million jobs in 2016 to nearly 22.3 million jobs in 2026. the expansion of jobs in this sector is being driven by four of the top 16 fastest growing industries overall: computer systems design and related services; management, scientific, and technical consulting; services to buildings and dwellings; employment services.
The employment services industry is the largest within the professional and business services sector accounting for nearly one-fifth of the sector’s labor forces with an annual rate of .5% from 2016 to 2026 with steady demand expected to continue. There will be an abundance of temporary, contract, and permanent employment opportunities for job seekers in the coming years, even with anticipated shifts in population demographics.
It’s a good time to be in the staffing business and we feel fortunate to be a part of this growing industry. By the way, we have jobs for job seekers. Just contact The Temp Connection. Referrals are appreciated. Do you know anyone looking for work? Are you looking for a job or a change in careers? With 25 years of industry experience, we’re here to help!
