Growth in professional staffing revenue is expected to be flat this year. Estimated 2023 revenue of $130.4 million compares with 2022 revenue of $130.2 million, according to the “US Staffing Industry Forecast: September 2022 Update” by Staffing Industry Analysts.
Most professional staffing segments are forecast to post single-digit revenue growth this year; however, travel nurse revenue is expected to contract by 20%. The decline comes after strong growth during the pandemic; travel nurse revenue surged by 185% in 2021.
On the other hand, education staffing revenue is expected to increase by 10% this year, though it is a much smaller segment in terms of size.
SIA’s Lexicon defines professional staffing as:
“A segment of temporary staffing that includes workers in IT/technical, engineering, accounting and finance, legal, sales and marketing and managerial functions, among others. This segment contrasts to commercial (or traditional) staffing [office/clerical and industrial]. While there is common consensus on how to categorize the highest and lowest skilled workers, there is a blurring of boundaries when it comes to medium skilled/middle management roles. Within these categories (such as sales and marketing, nursing, social care and HR), what some people call professional staffing, others might call commercial staffing. Such variation exists among the categories used by different national staffing associations to estimate the size and growth of their respective markets.”
SIA’s Lexicon is available for free and can be found in the free resources section of SIA’s website.