BG Staffing (BGSF) is a top pick for conservative investors; it is part of an industry that I see growing for the next few decades — at least, suggests Jason Williams, growth stock expert and editor of Wealth Daily.

Temporary and contract positions in the U.S. workforce are expected to grow 23% faster than full-time positions for the next five years. And a trend is developing that will extend that growth, potentially forever.

You see, more and more businesses are turning to staffing companies to supply the talent they need to drive their businesses forward. And more and more employees are looking to contract work, too.

Companies like the flexibility that temporary staff offers. They’re easy to hire and easy to fire. And when you’re not sure what the future holds, that’s a major benefit to hiring managers.

We’re also getting close to full employment. And that makes it harder for companies to find top talent to fill their positions. And surprisingly, workers like the flexibility, too. They can often do the job from anywhere and work on their own time.

There are over 20,000 staffing companies in the U.S. But there are only one or two that operate nationwide. Most are small mom-and-pop operations hoping to fill a need and make a little cash on the side. But it’s the big nation-wide ones that have the expertise and the deep talent pool major companies will be looking for.

And that’s a big part of why I like BG Staffing so much. Staffing companies get hit harder than most at the onset of a recession. And the stock has been getting beaten down as if we’re already in one. But pretty much all other signs point to a continued economic expansion.

That’s a disconnect. And it’s not going to last. BG Staffing can easily shoot back up to its all-time highs. And once it hits that level, its steadily growing revenues and best-in-class profit margins will keep shares climbing.

Speaking of recessions, another strong point for BGSF is the type of employee the company provides.

Not only does it help companies find laborers for light industrial work and technical employees for more skilled tasks (think IT and accounting), but it also helps fill the offices of apartment buildings and residential communities across the country.

So, while other staffing stocks are getting crushed in a recession, BG Staffing has a segment that will be growing as demand for apartments tends to grow when the economy is bad. And it’s the company’s biggest revenue-generating segment. That means, while we would see a pretty big drop to start, BGSF will recover earlier and faster than nearly any other stock on the market.

If I’m right and we’re not heading for recession in 2020, then you’ve got the potential for at least 30% to 40% growth. And let’s not forget that juicy (and well-covered) 6% dividend, too. This is definitely a stock you can buy and hold for a long time.

(Editor's note: Jason Williams picked cannabis-focused REIT, Innovative Industrial Properties (IIPR) as his conservative top stock for 2019; the shares are up 70%. Jason explains, "IIPR started 2019 with 11 medical cannabis properties across the U.S. It’s ending the year with 42. I still love it a year later. I can see it doubling or perhaps even tripling in the coming year.")

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