It’s clear that the US staffing industry has seen significant declines in hours worked over the past year, according to the SIA | Bullhorn Staffing Indicator. The Indicator reports that temporary staffing hours worked for the week ending March 25th were down -12% compared to the corresponding week a year ago. Commercial staffing hours were down -15%, while professional staffing hours were down -3%. As the US temporary staffing industry serves as a co-incident indicator for the US labor market and economy, this data can provide an important insight into the current economic landscape.
The indexed value for the week ending March 25th showed a US Staffing indexed value of 98, following readings of 98 and 98 in the prior two weeks. Professional Staffing indexed value was 140, following readings of 141 and 140 in the prior two weeks. Commercial Staffing indexed value was 81, following values of 82 and 82 in the prior two weeks.
Compared to the same week two years ago, Commercial staffing was down -10%, and Professional staffing was up 15%. This reflects the trend of decreasing hours worked, which is similar to the decline in temporary help employment as reported in the Bureau of Labor Statistics’ monthly Employment Situation reports.
The SIA |