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Industry Landscape
The U.S. staffing industry is robust, adapting to evolving workforce needs and economic shifts. It's characterized by high demand for flexible talent, specialization across various sectors, and increasing adoption of technology for efficient placement. Diversity and inclusion initiatives are also driving growth, with a focus on MBE partnerships. Despite economic uncertainties, the market continues to expand due to ongoing talent shortages and the need for agile workforce management.
Total Assets Under Management (AUM)
Staffing Industry Revenue in United States
~213.2 billion USD (2023)
(3% CAGR)
- The staffing industry is projected to grow modestly in 2024.
- Professional and IT staffing segments are expected to show stronger growth.
- Light industrial staffing, while large, may see slower growth compared to its historical performance.
Total Addressable Market
213.2 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Talent Matching
AI algorithms are revolutionizing candidate sourcing and matching by analyzing resumes, job descriptions, and performance data to identify the best fit more quickly and accurately.
Blockchain for Credential Verification
Blockchain technology can securely store and verify professional credentials, certifications, and work history, reducing fraud and streamlining background checks.
Virtual Reality (VR) for Skills Assessment & Training
VR simulations offer immersive environments for assessing practical skills and providing job-specific training, particularly for light industrial and technical roles.
Impactful Policy Frameworks
California Assembly Bill (AB) 5 (2019)
AB 5 codified and expanded the 'ABC test' for determining whether a worker is an employee or an independent contractor, making it harder for companies to classify workers as independent contractors.
This policy directly impacts staffing agencies by increasing the likelihood that contract workers placed through them will be considered employees, potentially leading to higher payroll taxes, benefits costs, and administrative burdens for the agency.
Pay Transparency Laws (various states/cities, ongoing)
Several states and cities (e.g., New York, California, Colorado) have enacted laws requiring employers to disclose salary ranges in job postings or upon request.
These laws require staffing agencies to be transparent about pay ranges when advertising roles, impacting their recruitment strategies and negotiations with both clients and candidates.
Ban the Box Legislation (various states/cities, ongoing)
This legislation prohibits employers from inquiring about an applicant's criminal history on initial job applications, delaying such inquiries until later in the hiring process.
This policy affects staffing agencies by requiring them to adjust their initial screening processes to comply with fair chance hiring practices, potentially delaying background checks.
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