This Week’s Engaging Article
Released weekly, the SIA | Bullhorn Staffing Indicator measures the amount of temporary staffing hours worked across the US, providing insight into near real-time trends in staffing industry performance. For the week ending November 11th, temporary staffing hours worked decreased -7% year-over-year, suggesting a slowing of momentum for the industry.
Professional Staffing indexed value was 135 following readings of 138 and 137 in the prior two weeks, suggesting a slight downturn. Commercial Staffing indexed value was 82 (following values of 81 and 82 in the prior two weeks), indicating a pause in the downward trend. The US Staffing indexed value, weighted to reflect the US staffing industry mix of professional and commercial jobs, was 97 for the week ending Nov 11th.
The BLS’s November 2023 US Jobs Report noted a -6.1% decline in temporary help services employment year-over-year. Although data shows the industry is gradually descending from the pandemic era highs, the recent week-on-week growth rate in Professional staffing hours of 1.6% (compared with 0.8% for Commercial hours) suggests momentum may be stabilizing.
Over the past five weeks