Due to the transformation of the American economy as it recovers from The Great Recession, companies in the United States have been hiring more part-time workers.
A recent article in Forbes by Grace Marie-Turner, "It is Fact, Not Anecdote That Obamacare is Turning Us Into a Part-Time Nation" blamed this on the new law that requires employers to provide health insurance to full-time workers. A recent Federal Reserve report disputes that assertion. No matter what the cause, however, it is undeniable that the percentage of part-time of the American workforce has increased greatly due to the impact of The Great Recession. From this, so have the profits of companies in the staffing industry in the United States.
The staffing industry in the United States is a $100 billion sector.
Within that group, the demand labor segment is almost at $30 billion and growing. Some of the best performing stocks have been those from the staffing industry, such as Paychex (NASDAQ: PAYX), Robert Half International (NYSE: RHI), Kelly Services (NASDAQ: KELYA), and TrueBlue, Inc. (NYSE: TBI). As an example, the share price of TrueBlue, Inc. is up almost 57% for 2013.
Labor SMART (OTCBB: LTNC), headquartered in Georgia, just registered record revenues for August. The amount that Labor SMART booked for August 2013 was 175% than that from last year. In the month of August, Labor SMART added over 100 more clients for its demand labor services and solutions.
The client roster for Labor SMART now ranges from small businesses to blue chip Fortune 100 companies. To better serve these clients, Labor SMART recently opened a Corporate Accounts Division. To expand geographically, it recently purchased Qwik Staffing Solutions to obtain business in Florida.
No matter where Labor SMART and other companies in the staffing industry operate in the United States, there is a very profitable future. Companies are now adjusting to utilizing part-time workers for a variety of factors, ranging from greater flexibility to more efficiency in human resources. That should only be rewarding for the shareholders of Labor SMART, Paychex, TrueBlue, Robert Half, and others in the industry.