Invoice Factoring Companies Help the Temporary Staffing Industry With 9.6% Annual Growth

One of the most significant indicators that experts use in forecasting the economy is the change in the temporary staffing services industry. As temporary staffing services grow, so does the economy.

Universal Funding can echo the announcement that industry pundits are reporting on the staffing employment numbers based on the increased inquires received for their factoring services from staffing agencies.
For the week of March 31 to April 6 staffing was up 4.59% compared with the same week last year, according to the American Staffing Association’s Staffing Index, which rose to 95.20. Temporary and contract staffing employment increased 0.34% from the prior week.
In a year-to-year comparison, staffing firms employed 9.6% more temporary workers in March than in the same month a year ago, according to Bureau of Labor Statistics. That was the strongest year-to-year growth since the summer of 2012.

“One reason for this staffing boom is the increase in production in the manufacturing and energy sectors. These are the industries that hire temporary employees to meet influxes in production. Invoice factoring, shores up cash flow issues for staffing companies who have experienced this 9% growth in the past year”, says Henry Wozow, CEO of Universal Funding.
Henry goes on to say, “Temporary seems to be the new permanent corporate strategy while companies continue to see how revenues will be affected by the economic recovery and the implementation of the Affordable Healthcare Act.”

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