Could Contract Work Help Restore the Economy?

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Contract Work

The latest U.S. jobs report has left many Americans feeling concerned and dubious about the country’s economic future. In previous recessions, public sector jobs would almost always bounce back and help to restore employment and stability in millions of communities and families. However, the opposite appears to be happening in this case. Public sector jobs are way down—64,000 jobs were lost in the past year, and 7,000 government jobs have been lost since last June.

Where are the jobs that Americans have been promised and that they so desperately need?

The answer is in “temp” work and contract jobs. Temp work is the road to recovery. Many companies aren’t able to hire full-time workers and salaried employers, but temporary hires and by-contract workers can deliver the expertise and flexibility employers require. At our staffing firm, Addison Group, we are seeing a solid increase in the number of job orders for temporary and contract work.

…an estimated 17 million people in the U.S. now work in these positions…

To provide you perspective on how significant temporary job growth has been, all you need to review is the job growth number from 2007-2012. Temporary jobs have accounted for 15% of all job growth in the US, even though the industry only makes up 1.9% of the US workforce. The temporary staffing industry has added the most total jobs since 2009.

Although not groundbreaking numbers, the steady addition of jobs has created a climate for substantial financial recovery. The fact that contract and temporary work is seeing a significant increase at Addison Group—and an estimated 17 million people in the U.S. now work in these positions—shows a shift of confidence for employers.

Of course, in an ideal situation, full-time work and salaried employees would also be in high demand, but the reality is that we aren’t quite there yet. Progress is slow but steady, and for now, temporary employment can help to sustain and encourage families across the country. It’s a wonderful way not only to earn much-needed income, but also to enrich your experience and your resume, and to prevent gaps on your professional timeline.

The road to economic recovery and employment stability will be a bumpy one, but the good news is that certain sectors are rebounding and that job opportunities such as temp work are opening up. With the growth of opportunities like these, other sectors will soon follow suit and even more jobs will follow.

As CEO of Addison Group, Thomas Moran has more than 22 years of experience in the staffing industry and has held executive leadership positions within the industry’s largest firms.