There’s a good deal of speculation happening right now about the US economy under President Trump and his pro-business, anti-regulation stances. While some economists paint more of a doom-n-gloom scenario for our near-future as Trump and his party adjust policies set in place to protect the environment and minorities and international trade, many others view these upcoming changes as valuable and potentially vital to business growth and “trickle-down” economic boosts for workers. Depending on who is writing the analysis or interpreting trends, things look good for American business under Trump and the Republican administration. Regardless of who is in-power in government, people need to work and companies will continue to need temp workers for various assignments.
Two new items of interest in our industry came to us today by way of ASA – the American Staffing Association. First up, Express Employment Professionals’ hiring trends survey reports that a full 76% of American businesses plan on hiring new workers in the first quarter of 2017. 9% of US companies plan on eliminating positions. According to the ASA article, “Almost one-third of businesses surveyed, 32%, plan to make hires in general labor, with 34% of that group planning to create new positions. Twenty-six percent plan to hire skilled labor, while 20% plan to hire administrative and office clerical staff. ‘These are certainly positive signs,’ said Express CEO Bob Funk. ‘More businesses are planning to hire, and only a fraction are eliminating positions.’ The survey of 1,951 businesses, which are current and former clients of Express Employment Professionals, covers hiring trends for the first quarter of 2017.”
In other news, a report from CBS reveals that our national economy is expected to grow slowly at 2.3% for the year, based on the nonpartisan Congressional Budget Office forecast for 2017. This is very good news for an economic boost under our new President, and could mean advances for manufacturers and temporary staffing agencies like Flex-Team Inc. who support those manufacturing entities.
As the CBS article explains it, “…setting a baseline for President Donald Trump’s plans to speed the country’s expansion. This way, Mr. Trump can be more confident that the economy is not about to tank or overheat, which would complicate his efforts to get his fiscal stimulus plan enacted. Nevertheless, the debate rages among economists about how the economy would perform under the weight of Mr. Trump’s policies…Longer term, other analysts’ forecasts of economic growth during the early stages of the Trump administration, assuming no change in policy, are reminiscent of the pace during the Obama presidency.” You can read the entire CBS article on the good news for our economy right here.
Whether manufacturing companies employ temp workers during “boom” times to shore-up a smaller-than-needed workforce for production needs or use temp staffing solutions during “bust” times in lieu of hiring full-time workers, we are here for you and your needs. Contact us to discuss your situation, won’t you?