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Robust growth for IT, locum tenens, legal and clinical: Pulse Report

September 04 2018

US temporary staffing revenue growth accelerated to a median 7% year over year in July from 6% in June, according to Staffing Industry Analysts’ latest Pulse report survey of staffing firms, released last Friday.

“Robust revenue growth reported by IT, locum tenens, legal and clinical/scientific staffing firms indicate continued demand for talent in those segments,” SIA Research Analyst Sree Thiyagarajan said.

Median year-over-year revenue growth accelerated in the following staffing segments in July from June:

  • Legal: to 27% from 10%
  • Clinical/scientific: to 22% from 7%
  • Locum tenens: to 20% from 13%
  • IT staffing: to 11% from 6%
  • Office/clerical: to 5% from 2%
  • Industrial staffing: to 6% from 5%
  • Travel nursing: to 6% from 5%

Median year-over-year revenue growth decelerated in the following staffing segments in July from June:

  • Allied healthcare: to 5% from 17%
  • Engineering/design: to 15% from 22%
  • Marketing/creative: to 21% from 24%
  • Per diem nursing: to 9% from 10%

Median year-over-year revenue growth stayed the same last month for finance/accounting staffing at 5%.

Median year-over-year revenue growth increased in direct hire to 17% from 5%, and in retained search to 18% from 10%.

The July report also found the net proportion of firms reporting an increasing trend in new orders fell to 46% in July from 50% in June — still higher than the last 12-month average of 41% for this metric.

Average sales difficulty edged up to 2.66 in July from 2.58 in June (on a five-point scale, with five being most difficult), and average recruiting difficulty edged up to 3.28 in July from 3.25 in the survey overall. Industrial staffing firms reported an increase in both sales and recruiting difficulty, reporting the highest recruiting difficulty level since August 2015 at 3.86. For staffing firms serving the healthcare industry, average sales difficulty increased, while recruiting difficulty stayed the same. For IT staffing firms and staffing firms serving the manufacturing industry, average sales difficulty increased, while recruiting difficulty edged down slightly.

Starting with the report covering April, the Pulse research now covers metrics by company size — including median year-over-year revenue growth, bill rates, new order trends, and sales and recruiting difficulties. US temporary staffing revenue rose a median 17% year over year in July for survey respondents with $10 million or less in US staffing revenue; 9% for those with $11 million to $200 million; and 4% at firms with more than $200 million in revenue.

Pulse survey results are based on a monthly survey of US staffing firms. Data from the month of July were submitted by individuals from 155 staffing companies. Corporate members of SIA can view a high-level summary of the report, and the full report is available to participants.

It’s free to take part, and the next Pulse Survey is currently underway. Participate now by selecting this link.

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