Staffing Employment Holds Strong in March
One year after the onslaught of the pandemic, March 2021 exceeded expectations with high employment records. This positive change could be attributed to the increase in staffing employment opportunities on top of rigorous vaccination efforts. As a result, the economy began to heal as people became more accepting of the new working situations.
The positive trend is marked by the continuous rise in temporary and contract-based jobs.
The staffing employment rate only slightly changed by 0.05 percent in the second week of March, coming from the first week. However, it showed an increase of around 11 percent from the same week in 2020. Hence, this data only indicates that more jobs were available in March 2021 than in March 2020.
Forty-six percent of staffing firms revealed that they had witnessed growth in contract-based and temporary jobs. However, many companies reported a 6.4 percent reduction in new starts, where only 32 percent of companies saw a rise in weekly assignments.
Despite the said reduction, the temporary and contract-based employment reportedly expanded to 9 percent from mid-February to mid-March. Based on the ASA Staffing Index, the four-week moving average grew to a value of 93.
The strong recoveries present a promising future for the overall workforce in the US. In March alone, US recruiters opened 916,000 jobs, almost double the number of jobs offered in February, as stated by the US Department of Labor. In light of this, the unemployment rate has also reduced to 6%.
Most economists are optimistic about this increase in employment opportunities because of the vaccines. This could also be attributed to schools opening, as women who left their jobs to take care of their children had returned to work.
Based on the above numbers, the staffing industry seems to be doing much better now, although it is still picking up pace as vaccination efforts become aggressive. So far, vaccinations have significantly reduced COVID-19 cases, leading to the lift in restrictions and more relaxed safety protocols. While restrictions are still in place, contract-based and temporary employment continued to rise at a gradual pace.
If you want to be part of this growth wave in employment and make your company’s hiring process a success, start with partnering with Agile Workplace Staffing. Agile WPS has over five years’ worth of experience in providing cost-effective and time-saving solutions to your staffing needs, especially in the engineering, life sciences, and manufacturing fields. Moreover, the firm is committed to linking you with the best talent that would fit well in your company.
Get in touch with us today to help you connect with the perfect candidate who would best fit your organization.