State of the Industry

As we all know, it’s been a tough market for staffing for the last few years. According to the most recent numbers, hiring significantly slowed in July, causing the unemployment rate to rise from 4.1% to 4.3% - a three year high.

But it’s not all doom and gloom. It all but guaranteed a rate cut from the Federal Reserve in September, which should lift some of the monetary restrictiveness on the economy.

Looking forward, I anticipate a big resurgence in the next 3-5 years. We’re going to get back in the black in terms of growth. Staffing is always on the front end of economic trends – and personally, I can’t wait to be there with you through it.

I’m excited for the future of the industry and for Advance Partners because I know that we have the best, most resilient clients in the industry. Our goal is to be a source of stability in uncertain times, which we have done for the past 26 years through recessions, pandemics, and everything in between. It doesn’t hurt that we are backed by the financial strength of a Fortune 700 publicly traded company, Paychex – which enables us to provide you with the working capital to maximize opportunities.

So even though things are tough now, I have all the confidence in the world that we will get through this together and reach new heights of growth in the future.

Jeremy Bilsky

Senior Director and General Manager Advance Partners