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Staffing sector projected to grow 12 percent in 2021

By Madison Parry

A strong 2021 is expected for the staffing sector as vaccine rollout helps to stabilize regulation and work security for various industries. U.S. staffing revenue is expected to grow 12 percent compared to July’s original forecast of 11 percent.

The staffing sector is projected to make a strong turnaround in 2021, according to a report from Bridgepoint.

As COVID-19 vaccine distribution continues, its rollout is expected to help stabilize regulation and work security for various industries across the U.S. and internationally.

The Staffing Marketing Outlook from the report notes that 2020 was a rough year with temporary staffing, direct hire and retained search industries shrinking 17 percent compared to 2019.

For 2021, projections are improving with U.S. staffing revenue expected to grow 12 percent compared to July’s original forecast of 11 percent.

Key revenue drivers for the staffing industry in 2021 include the downward trend in the spread of COVID-19, a slow but steady recovery for GDP and increasing availability of the vaccine in the first half of 2021.

Healthcare staffing remains the most improved. According to the report, travel nursing sector rose 10 percent in 2020, beating the July forecast of 5 percent growth.

 

Posted 03/01/2021