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Is the Staffing Industry Turning the Corner?

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Grim news is all too easy to find these days.

For weeks we’ve read about statewide shelter-in-place orders. Mandatory business closures. Talk of a “second wave.”

And now, the Labor Department has admitted that April unemployment numbers were under-reported – by 4.9 million.

It’s enough to take the wind out of your sails.

Need a little good news to fill them back up?

These staffing, economic and employment stats show glimmers of hope:

  • After weeks of massive layoffs (including 19.6 million in April alone), private-sector employment losses slowed markedly in May (2.76 million).
  • Total non-farm employment rose by 2.5 million in May. (Note: the BLS does not revise employment survey results, for fear that it will look like political manipulation).
  • Temporary jobs in the US increased by 39,100 in May.
  • After sharp declines in March and April, The Conference Board Employment Trends Index™ edged up in May to 46.28.
  • On June 8, stocks on the S&P 500 erased their losses for the year.

And according to many experts, these numbers signal a turning point for our nation:

The peak of job loss…and the beginning of the recovery.

Entering the Economic Rebound

How has the pandemic impacted the staffing industry so far – and how long will the recovery take? What sales and marketing tools are most effective right now? What should your firm be doing more of, less of, or differently to prepare for the rebound?

Our team conducted a nationwide survey of staffing and recruiting professionals to answer these questions and more. Right now, we’re compiling the data and preparing a special “Staffing Industry Outlook” report, in which we’ll share recommendations to help your business adapt to the current economic environment – and thrive in the upturn that’s ahead.

The report will be available soon. If you’re looking for resources to kick-start your recovery in the meantime, visit our COVID Recovery page. It’s filled with business strategy and marketing resources to capitalize on today’s opportunities and emerge from this downturn more competitive than ever.

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