The Pharmaceuticals industry (“Pharma”) has been undergoing several developments driving its recent performance. In the years leading up to 2017, revenues consistently grew at an estimated 3.6% each year. Though the economy grew at a slow but steady pace throughout this time, it is likely that the industry’s growth was at least partly thanks to its acyclical nature – people need their medicine regardless of economic conditions – as well as the general aging of the population.
The U.S. Staffing industry contributes nearly $136 billion to the U.S. economy by providing employment opportunities for approximately 15 million employees each year. The industry is comprised of over 20,000 staffing firms and 16 million staffing employees who provide temporary and contract staffing, recruiting and permanent placement, outsourcing and outplacement, and human resources consulting services. In recent years, temporary jobs in proportion to the national workforce rose to historic levels as employers in most markets remained wary of hiring permanent employees. Some industry analysts suspect that this trend is a temporary shift in preference and full-time jobs will increase as a percentage of the national workforce when economic conditions improved. However, evidence supports the notion that is a structural change as temporary and contract staffing provides employers with greater flexibility and savings in wages and benefits paid.