Economic Outlook / Staffing Firms Optimistic

As our business is typically seen as a leading economic indicator, many of my clients regularly ask how we see the economic climate.  The Fed’s Beige Book released last week reports optimism in the Staffing Industry.

Staffing services providers are more optimistic than they were three months ago, expecting steady growth through the end of the year and into 2014, according to the Federal Reserve’s Beige Book report released this week. Reports from the 12 Federal Reserve districts indicate that the economy continued to expand at a modest to moderate pace from early October through mid-November, and hiring increased modestly or remained unchanged across districts.

Staffing firms in the Philadelphia District maintained a more modest pace of growth than some other regions. Staffing firms also reported steady growth in demand for temp placements, especially in manufacturing, distribution and health care.  Here at TriStarr, we are experiencing somewhat stronger demand than the overal District and more in line with other areas of the Country.