Our top articles for April include an overview of our latest State of Staffing report, a summary of recent mergers and acquisitions in the staffing industry, and a look at the industries that are most susceptible to job losses if the U.S. enters the anticipated recession.
Our 2023 State of Staffing report found that one-third (33%) of staffing agencies grew over 20% last year, and they expect their growth to be similar this year. But they’re also facing challenges like finding new talent and implementing new technology.
Job openings decreased 6.0% from the last day of January to the last day of February, according to the U.S. Bureau of Labor Statistics. Openings decreased the most in professional and business services (-278,000) and increased the most in construction (+129,000).
The latest mergers and acquisitions in the staffing industry include Thoma Bravo’s acquisition of Coupa Software, Sterling Check Corp.’s acquisition of A-Check Global, and 11 other acquisitions.
The latest data from the Bureau of Labor Statistics shows a complex labor market. Leisure and hospitality saw the most job gains in March at +72,000 jobs, while retail trade decreased by 15,000 jobs. The unemployment rate fell slightly to 3.5% in March, and there was little change in long-term unemployment.
The Conference Board Job Loss Risk Index found that information services, transportation and warehousing, and construction are at the greatest risk of job losses if the U.S. experiences an anticipated recession. Exposure to labor shortages as well as sensitivity to monetary policy are just a few indicators that were used to assess job loss risk.