The National Association of Professional Employer Organizations (NAPEO) has released information indicating the PEO industry grew in the first three months of 2017.

The survey, which was conducted in June 2017 by Industry Insights, indicated that PEO revenues, gross profits operating income and an average number of customers increased in comparison to the first quarter of 2016. The survey also showed an increase in the same areas in the final quarter of 2016 compared to the final quarter of 2015.

"It's encouraging to see this survey confirm what we've known for some time: the PEO industry is on the rise," NAPEO President and CEO Pat Cleary said.

The industry executives believe this trend will continue, with 96 percent of them projecting increases in worksite employees and 41 percent expecting a substantial increase in the next year.