Poised for Growth: Top Temporary Occupations Predicted to Flourish in 2014

Poised for Growth: Top Temporary Occupations Predicted to Flourish in 2014

The start of 2014 has brought an unusually harsh winter and a spate of extreme weather. But 2014 has also brought the staffing industry some unexpected, good news: growth. At Tricom, we’ve noticed our client billings are up 15% in the first two months of 2014 over this same time last year. What we’re hearing from our clients is positive news as well. Things are busy, and that’s a very good thing.

 

Will this growth last further into 2014? Or will another Polar Vortex emerge, putting a deep freeze on both the thermometers and the staffing outlook? While we can’t predict the weather, we can share with you what others are saying about the staffing industry’s projected growth areas for 2014. 

 

First, let’s take a look at why the staffing industry is experiencing growth. While we joked about not being able to predict the weather, Economic Modeling Specialists had an interesting article looking at jobs data in relation to weather. They looked at five major metropolitan areas: New York, Chicago, Houston, Minneapolis/St. Paul and Miami. They examined how many jobs are lost or gained with every degree the monthly average temperature was above or below the 30-year average. They specifically looked at the winter months from February 2003 to February 2013. While New York was the most sensitive to changes in temperature, and Miami the least, it was interesting to see that Minneapolis/St. Paul was the second-least sensitive. They also point out that weather has a primary impact on the construction and hospitality industries. Their conclusion was that while colder weather may result in weaker job growth, it varies widely by area. So while it’s always tempting to blame things on the weather, the data does not appear to be there (meaning they don’t have conclusive evidence or they haven’t studied the topic in-depth enough yet) in the case of growth in the staffing industry.

 

Many are pointing to what they’re calling the “Avoidant Economy” as a reason why the staffing industry is seeing growth. The Avoidant Economy is a result of the Great Recession wherein there’s a permanent change in the mentality of buyers. Buyers today tend to have a fear of overhead, keep substantial cash supplies, put off decision-making and minimize risk. Scott Wintrip discussed this in a blog post over a year ago, and his assertions still hold true today.

 

What does this mean for staffing companies? It means there are a host of new opportunities to supply temporary employees to companies who are hesitant to spend the time, resources and commitment it takes to recruit new employees on their own.

 

It would appear that staffing companies are stepping up to the challenge. The Economic Modeling Specialists have listed the top Temporary Occupations for 2014. These occupations in the staffing industry are expected to grow by at least three times the projected rate of all job growth:

 

Occupation

Total Temp Jobs (2013)

% Change

(2013-2014)

Med. Earnings/Hr.

Human Resources Specialists

58,016

5%

$26.96

Machinists

20,277

5%

$18.95

Heavy and Tractor-Trailer Truck Drivers

21,264

3%

$18.09

Maintenance and Repair Workers, General

26,021

3%

$16.93

Inspectors, Testers, Sorters, Samplers, and Weighers

24,276

3%

$16.72

Bookkeeping, Accounting, and Auditing Clerks

26,154

3%

$16.92

Licensed Practical and Licensed Vocational Nurses

37,895

3%

$20.04

Registered Nurses

59,632

3%

$31.40

Sales Representatives, Services, All Other

19,861

3%

$24.26

Source: Economic Modeling Specialists Intl. 2013.4 Class of Worker Dataset; Temporary Help Services Industry

 

Eric Gilpin, President of CareerBuilder’s Staffing and Recruiting Group, points out that new hiring forecasts support the case for continued growth in the staffing industry for 2014.

 

“Forty-two percent of private sector employers, according to a recent CareerBuilder and Harris Poll survey, plan to hire contract or temporary workers in 2014; that’s up from 34 percent in 2011,” points out Gilpin in a recent Staffing Stream blog post.

 

Is your staffing company ready to fill the void of quality employees these companies are experiencing? If so, you’re poised to take advantage of the promising growth 2014 is looking to deliver. In the meantime, Tricom will continue to closely monitor your funding needs and proactively extend your line of credit when necessary to enable you to take advantage of new growth opportunities as they become available. 

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