Press Release

October 2022 Staffing & Franchise Update

Thank you for your interest in Spherion’s franchise offering as well as the staffing industry in general.  Below are some highlights of both Spherion and the employment market’s performance in the past quarter and month:

The Spherion community continued with strong growth throughout Q3 2020, despite headwinds created by rising interest rates and a dip in the investment markets overall growth.  Through Q3 2022 over the same period of 2021 our franchise markets had;

• YTD Revenue is up 9.0%
• YTD Gross Profit up 11.3%
• Fee-based Revenue up 41.3%

That reinforces the September Job Report confirming 263,000 new jobs created and the unemployment rate holding steady at 3.5%.  Wage growth has begun to flatten, a good sign for employers facing financial pressures from increasing compensation costs.  Average hours worked by staffing employees nationwide grew by 2%,  A bright picture for staffing that looks to be sustainable and poised for growth as we head toward 2023. 

Community wise, Spherion has added 13 new franchise owners so far in 2022, with an additional 8 in the pipeline.  We expect to reach our goal of 17 new owners in 2022!