Network revenue increased as does same-store
SearchPath announced that in the first 8 months of 2019, network revenue was up 25% over the same period in 2018. According to Tom Johnston, CEO the significant increase was a reflection of the solid job market and the restructuring of the segments that the network works within. “There were major increases in the business services segment for us” Johnston went on to say, “both in Real Estate and more importantly in the Staffing industry segment.” The increase volume in placements with Staffing and Search firms indicates that the industry as a whole is looking for a very robust 12-month cycle.
In same store sales, the average office that increased production had an 85% uptick in dollar volume and a 55% increase in # of people placed.
While the summer isn’t always the strongest time for making placements do to vacations and seasonal manufacturing changes, Johnston believes that the year will close out strong. Johnston went on to say “Regardless of the fluctuation in the global markets, US businesses need the right people on board now to make 2020 a great year.”