Steinerman‘s Staffing Study: U.S. Temporary Help Industry Recovery Appears to Continue its Modest Trajectory

Research evidence excerpt

Steinerman‘s Staffing Study: U.S. Temporary Help Industry Recovery Appears to Continue its Modest Trajectory

J P M O R G A N North America Equity Research

01 July 2026

Steinerman's Staffing Study

U.S. Temporary Help Industry Recovery Appears to

Continue its Modest Trajectory

See page 5 for quotes from our survey of U.S. private temporary staffing firms. Business & Information Services

The Bureau of Labor Statistics (BLS) will release nonfarm payroll data for the month Andrew C. Steinerman AC

of June tomorrow/Thursday, July 2nd. The data from the SIA Bullhorn Indicator (1-212) 622-2527

andrew.steinerman@jpmorgan.com

appears to have pulled back recently, on a seasonally adjusted basis, in U.S. temporary

Rohan Kalra

help employment for June after strong readings to start the year (Jan’26-May’26). (1-212) 622-0879

This dynamic differs somewhat from the ASA Index weekly trends, which saw a rohan.kalra@jpmorgan.com

slight uptick in June. This data aligns with our dialogue among private staffing Alexander E.M. Hess, CFA

executives, which suggests that revenue trends in June were in-line to positive, which (1-212) 622-8331

broadly appears encouraging overall and reinforces our view of a moderate alexander.hess@jpmorgan.com

recovery. Commentary around net new orders has continued to lean positive, with J.P. Morgan Securities LLC

most respondents seeing a y/y pickup in new requisitions and a more active pipeline

entering July, which we believe reflects a gradually improving cyclical backdrop for

labor. Industry sentiment appears to be modestly more optimistic, though macro and

geopolitical uncertainty is underpinning some caution. Summarizing our survey work

and third party data, it appears that the demand for temporary work continues to

recover, although in a moderate fashion.