Temporary Workers Near U.S. Record Makes Kelly a Winner
James D. Jones III has been drafting new drawings of the piping at an Atlanta-area factory on a contract for ManpowerGroup Inc. (MAN) for the last 10 months. When this job ends, he says it will be easy to find another.
The Texas native is part of a groundswell of temporary workers at staffing companies from Manpower to Kelly Services Inc. (KELYA) The number of temps and their share of the U.S. workforce are both headed for records this year, according to forecasts by research firm Staffing Industry Analysts and others.
“There’s been this push to get things just in time,” Jeffrey Joerres, chief executive officer at Milwaukee-based Manpower, said in an interview. “Companies have gotten their hands forced on being more adept at trying to figure out their demands for talent as much as their demand for capital resources.”
Increased consumer demand, a greater need for flexibility and new health-care requirements are prompting businesses from Ford Motor Co. (F) to the PeaceHealth health-care system in Washington state to turn to staffing firms. Companies’ reluctance to hire amid concerns the economic expansion may slacken has also been a boon for Manpower (MAN), its peers, and their shareholders. Many stocks in the industry are outpacing the Standard & Poor’s 500 Index, and analysts see more gains: Almost two-thirds of ratings for eight among the largest staffing companies are buy.
‘More Nimble’
Automakers, retailers including Wal-Mart Stores Inc. and pharmaceutical companies such as AbbVie Inc. all use temporary staff. Those workers, full-time or part-time, handle everything from manning factories and warehouses to working in information technology or sales.
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http://www.bloomberg.com/news/2013-05-10/temporary-workers-near-u-s-record-makes-kelly-a-winner.html
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