Job Advice

Is it over yet?

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November 30, 2009
After a few months of pretty positive economic data, the past few weeks haven’t been quite as optimistic.  While I am certainly not an economic expert, I have worked in the staffing industry for 5+ years so I hope I am a little more qualified to comment on hiring trends.

So here’s the bad news.  As you would probably expect, this year has not been pretty for the staffing industry.  Most recruiting firms have experienced declines ranging anywhere from 20 to 60%.  While our firm hasn’t escaped without a few bruises, That’s Good HR has a solid reputation and network as an Indianapolis staffing firm so we are in a good position going into 2010.

The good news is that we are starting to see a recovery.  Temporary staffing picked up over the summer.   On the direct hire and executive search side, we are starting to see things pick up.  However, not quite to pre-recession levels just yet.

Many people assume unemployment levels directly impact our business.  And with unemployment recently crossing the 10% thresholds, it is often assumed that we might just be seeing the worst of the recession.   However, for the direct hire and executive search division, non-farm employment is the best indicator of our business.  Earlier this year, non farm job losses ranged from 650-750K per month.  For the month of October, the preliminary data indicates that non-farm job losses were closer to 190K which is a great improvement for our business’s outlook.