Statewide shelter-in-place orders. Mandatory business closures. Unprecedented economic challenges. And now, talk of a “second wave.”
In just a few short weeks, the pandemic fundamentally altered the way we think, behave, and of course, work. It brought our economy to a screeching halt. It created panic and uncertainty like we’ve never known.
About This Study
In May and June 2020, Haley Marketing conducted an online survey of staffing industry professionals to find out how our industry has been impacted by the pandemic – and what firms are doing to bring in more sales and prepare for the economic rebound. The survey was completed by nearly 200 individuals located throughout the U.S., representing a wide range of staffing specialties.
Note: Percentages are based on the number of respondents who completed each question.
Q: What is your core industry of focus? (multiple responses allowed)
Key Findings
After weeks of massive layoffs (including 19.6 million in April alone), several employment and economic pictures are showing glimmers of hope:
- Private-sector employment losses slowed markedly in May (2.76 million)
- Total non-farm employment rose by 2.5 million in May
- Unemployment declined to 13.3% in May
- Temporary jobs in the U.S. 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.5
And according to many experts, these numbers signal a turning point for our nation:
The peak of job loss…and the beginning of the economic rebound.
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?
This report answers these questions and more, sharing recommendations to help your business adapt to the current economic environment – and thrive in the upturn that’s ahead.
Up Next: How you can recover from COVID-19’s effect on the staffing industry
In my next post, I’ll share the facts on just how hard the staffing industry was hit by the pandemic – and how you can plan to make a recovery. But if you don’t want to wait, you can download the full, FREE eBook, “2020 Entering the Economic Rebound Staffing Industry Outlook” here.
Sources:
2: https://www.bls.gov/news.release/empsit.nr0.htm
3: https://www2.staffingindustry.com/Research/Research-Reports/Americas/June-US-Jobs-Report3
4: https://www.conference-board.org/data/eti.cfm
5: https://www.nytimes.com/2020/06/08/business/stock-market-today-coronavirus.htm
