The US staffing industry has seen strong growth over the past two years, with estimates of a 17% increase in 2021 and 33% in 2022. However, a new report from Staffing Industry Analysts predicts a 3% contraction this year, due to a combination of higher interest rates, decreased government spending and slower wage increases. Professional staffing segments such as IT are projected to show growth of 5%, while travel nurse revenue is expected to contract by 25%. On the other hand, other healthcare staffing segments are expected to have growth this year, making it the largest staffing segment in terms of revenue. The report also forecasts a return to growth in 2024 with a 2% increase, though this is contingent on an improvement in the overall economic environment.