The Covid-19 outbreak and subsequent lockdown orders that began in March have brought an abrupt end to a decade of sustained growth US staffing industry revenue. Since 2011, spend on temporary labor through staffing firms has increased each year, ultimately reaching an estimated $151.8 billion in 2019. SIA anticipates double-digit revenue declines across most segments and sectors this year; our base-case scenario predicts a 21% revenue decline in 2020, reflecting a 17% drop in temporary staffing and 43% decrease in place and search. As the duration of the outbreak remains highly uncertain, we note that a wide range of scenarios, better or worse than our base case scenario, are possible.

The US Staffing Industry Forecast: April 2020 Update is available to CWS Council members.