The competitive labor market continued to create significant demand within our consulting and temporary staffing divisions. This resulted from a combination of factors: the low number of qualified permanent candidates, a backlog of work caused by staffing shortages, competition from other employers, mid- level managers moving out of California, and older generations leaving the workforce. In some cases, our clients opted for interim consultants to bridge the gap while a search was being conducted for a permanent hire. In other cases, projects and an overall excess of day-to-day deliverables compelled many companies to seek temporary help to alleviate the burden on their staff. In Southern California, we saw all industries hiring in 2022 despite fears of a recession. While record inflation tightened purse strings and global banks hiked interest rates, the Accounting and Finance sector remained strong with ultra-competitive recruitment activity.
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