- The American Staffing Association released data showing staffing trends for Q1 2024.
- Temporary and contract staffing employment declined from Q4 2023, reflecting typical seasonal patterns.
- Quarterly and Yearly Trends:
- Staffing employment typically sees a decline in Q1, followed by growth in subsequent quarters, peaking in Q4.
- Q1 2024 saw a 7.7% decline quarter-to-quarter and a 13.9% decline year-to-year in staffing employment.
- Sales Performance:
- Staffing sales totaled $31.5 billion in Q1 2024, down 8.4% from Q4 2023 and 15.9% from Q1 2023.
- Economic tightening contributed to these declines, affecting overall demand for temporary and contract workers.
- Market Outlook:
- Despite challenges, the labor market remains robust with growth concentrated in specific sectors.
- Staffing and recruiting firms are optimistic for the second half of 2024 as economic conditions stabilize.
- While facing current economic pressures, staffing companies anticipate a rebound in demand moving forward.
- Projections indicate modest revenue growth for Q3 2024 and a slight increase in full-year sales compared to 2023.
