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While the resurgence of COVID-19 cases and fears over the omicron coronavirus variant pose some degree of uncertainty, historically high job openings are leading to increasing demand for staffing & employment services companies. According to the U.S. Staffing Industry Forecast, U.S. staffing revenue will grow by 16% this year to a record total of $157.40 billion. Therefore, both TNET and ADP should benefit.
TNET has gained 34.3% over the past six months, while ADP has returned 17.1%. However, ADP’s 12.5% gains over the past three months are higher than TNET’s 5.9% returns. Moreover, ADP is the clear winner with 32.9% gains versus TNET’s 20% returns in terms of the past nine months’ performance.
