The Staffing Firm Guide to Navigating a Recession

Some Economists like to say that business cycles do not die of old age. Instead, recessions are often kickstarted by policy missteps, bursting asset bubbles, or geopolitical shocks - like, for instance, a global pandemic or the war in Ukraine.

UNCERTAINTY NOW, AND AHEAD

The global COVID-19 pandemic had a swift and devastating economic impact in the US, with millions of Americans losing jobs, business activity freezing, and consumer spending taking a major hit. Years later, we are still feeling the effects. Inflation is high, gas and other consumer prices are shockingly high, and the Federal Reserve is trying to keep everything in check by raising the benchmark interest rate. Other economic factors contribute to uncertainty as well, such as the geopolitical situation in Ukraine, which is affecting global trade and food production.

To help staffing firm owners during all this uncertainty, we put together this guide on what a recession means for staffing and what can be done to navigate through and come out the other side.