AtWork weathered the Great Recession with gusto. It has prospered over the course of four presidents, and has consistently offered temporary and temp-to-hire employment to jobseekers across the country. In fact, the staffing industry was a consistent provider of employment during the course of the recession that gripped the country for nearly two years beginning in late 2007.
We are excited and honored to mark our 25th anniversary this year. We’ve weathered some big changes along with our franchisees and those we’ve put to work. Here are three big things that have influenced the staffing industry since our founding in 1992:
1. The Great Recession: The longest recession since the 1950s began in December 2007, which marked the beginning of five consecutive declines in U.S. gross domestic product. Unemployment following the recession peaked at 10 percent. Recovery has been slow. In 2015, the active labor force declined to its lowest level in four decades. The staffing industry suffered ill effects: Staffing employment tumbled by 34 percent. The industry rebounded quickly, however: Between 2011 and 2015, temporary and contract employment outpaced non-farm jobs by nearly 12 percent. In 2014, staffing firms hired 32.7 percent more workers than in 2013, and its share of the workforce returned to pre-Recession levels. AtWork continued to place people in jobs throughout the Great Recession, and the staffing industry overall weathered the storm respectfully, as the data show.
2. A more balanced workforce: Men and women are now equally likely to desire promotions with more responsibility; women have nearly an equal number of college degrees; and the number of women in the workforce is almost equal to men. The number of women earning college degrees increased by 9 percent during the period between 1994 and 2005; the number of men earning degrees declined by 9 percent. The wage gap between men and women has also closed to about 20 percent in favor of men. In 1992, women earned only about 70 percent of their male counterparts. AtWork is committed to equal treatment of all the workers it places, and with a larger workforce available, it can provide more jobs.
3. Fewer full-time retirees: Between 1977 and 2007, members of the workforce older than 65 increased 101 percent. That same labor force had been at all-time lows in the early 1990s. Many older workers now work full-time. The overall trend toward retirement-age employees remaining in the workforce is actually not an historical anomaly. In the late 1940s, nearly 30 percent of the labor force older than 65 worked at a full-time or part-time job. Many jobs now occupied by those of retirement age are of a nonphysical variety; AtWork does not tolerate age discrimination, and can likely place a retirement-age worker in a job of their choosing. The institutional knowledge, work ethic and overall experience of those who have enjoyed long careers is invaluable.
Contact us today for more information on staffing solutions in the 21st century labor marketplace.