What temp firms reveal
If you’re looking for a fresh angle to the jobs story, a couple of imminent earnings reports will give you a timely news peg.
Tomorrow, staffing industry giant Manpower Inc., reports quarterly financial results. And next week, on July 28, its equally global counterpart Kelly Services Inc. releases earnings, giving you ample reason to report a solid and audience-friendly piece on the state of temporary work in your region.
Temping is a viable income stream for many of your readers and a way for displaced workers to keep a toehold in the workforce. Don’t overlook the industry as a source of work-life stories and job-market forecasts.
Robert Half International Inc., parent of Accounttemps and other contingent-workforce firms, posted its second-quarter results last week. Revenue was down to $749 million from $1.2 billion in the same period a year before, while profits plummeted to $5.4 million $74.6 million a year ago.
But while they’ve taken the same economic hits as most other industries, staffing firms represent a multi-billion-dollar annual business, with more than 2 million workers a day being placed in assignments that can last a day or a year. Demand for temps dropped sharply in late 2008 but the pace of the fallout is slowing so far this year. It also, analysts say, tends to rebound sooner than the permanent job market, so temping activity can be a bellwether of employment activity in your region.
Some 6,000 firms operate about 20,000 branches nationwide, so it shouldn’t be hard to find sources and anecdotes. Niche firms abound, serving sectors from health care to autos to construction. Not surprisingly, the smaller shops are more accessible than the publicly-traded corporations. Try several for a frank discussion about what they are seeing in your territory, what concerns them and what their forecast is for the balance of the year.
The American Staffing Association, a national trade group, operates a helpful Web site and its state-by-state chapter directory
can help you home in on local contacts. The site also features industry FAQs and other materials in its media relations channel.
Another avenue: Talk to major employers about their outlook for hiring temps. Don’t overlook government agencies, universities and K-12 school districts; they rely on staffing firms to fill temp posts ranging from scientists to substitute teachers.
The consulting firm Staffing Industry Analysts offers a free daily e-mail feed; sign up at the site. While not primarily intended as a media resource, their consulting staff may be available to comment on trends or point you toward statistics.
