Office Staffing & Temp Agencies in Illinois - Industry Market Research Report

Here and Gone: Temporary Staffers Will Likely Be the First to Go as Economic Growth Decelerates

Office Staffing & Temp Agencies in Illinois

Over the five years to 2017, gross domestic product in Illinois has increased, leading companies to require more employees to augment their existing labor force, which helped the unemployment rate in Illinois fall. Despite economic growth, businesses still doubted the stability of the economy, leading them to hire temporary staffers over full-time employees. As a result, demand for industry services increased, especially from IT industries, as evolving technological challenges from downstream markets lead to increased demand for those providers' services, necessitating temporary employees. Industry revenue growth is expected to slow over the five years to 2022 after having grown rapidly during the previous period. As economic activity slows, the first employees that companies look to terminate are temporary staffers, since they are not legally liable for them and are viewed as supplementary to their existing workforce.

Office staffing and temp agencies supply businesses with workers for limited periods of time to supplement existing staff. Although temp workers remain employees of the temp agency, temp agencies do not provide direct supervision of their employees at clients’ work sites.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.