This week, the SIA | Bullhorn Staffing Indicator reported a decrease in US staffing hours worked for the week ending Oct 21. Commercial staffing hours were down -10% year-over-year, while Professional staffing hours were down -6%. On a week-over-week sequential basis, temporary staffing hours worked were up 0.6%. Professional staffing hours were up 1.1%.
Values for US staffing, Professional staffing, and Commercial staffing indicate that the Professional Staffing indexed value was 136 for the week ending Oct 21st, while the Commercial Staffing and US Staffing indexed values were 82 and 98 respectively.
The US Bureau of Labor Statistics’ Employment Situation report estimated that employment in the temporary help services industry fell again in September 2023. However, both the BLS data and the SIA | Bullhorn Staffing Indicator suggest that the pace of decline may be stabilizing.
Underlying data for the SIA | Bullhorn Staffing Indicator is available for review. This can be used by staffing firms to benchmark their past and current performance, as well as a tool for forecasting near term industry trends and outlook. Investors also use the SIA | Bullhorn Staffing Indicator for insight into the US
