In the last week of 2023, US staffing remained below prior year levels, with a decrease of -5% in temporary staffing hours worked compared to the same week in 2022. Commercial staffing saw a drop of -4%, while professional staffing fell by -7%. This drop can be attributed to the business closures during the Holiday week.
On a week-to-week sequential basis, temporary staffing hours worked decreased by -6.4%, with commercial staffing down -4.6% and professional staffing down -12.8%. The indexed values for US staffing, professional staffing, and commercial staffing were all lower compared to the previous two weeks.
When compared to two years ago in December 2021, commercial staffing was down -10% and professional staffing was down -6%. The decline in the SIA | Bullhorn Staffing Indicator is consistent with the Bureau of Labor Statistics’ report of a -6.8% decline in temporary help employment in December 2023.
While competitive pressures are increasing in the staffing industry, there are still opportunities for firms that have developed a competitive advantage through technology or service offerings. Business leaders and investors can use the SIA | Bullhorn Staffing Indicator as a tool to gain real-time insights into the industry.