November 11, 2022
Hours labored within the US staffing trade decreased 9% yr over yr within the week ended Nov. 5, in accordance with the SIA | Bullhorn Staffing Indicator, launched at this time.
The decline was pushed by a slowdown in demand for industrial staffing, whereas the momentum with skilled staffing stays extra favorable.
Hours have been down 1.8% week over week.
Skilled staffing edged down 1% yr over yr. In October, skilled staffing hours elevated by a mean year-over-year development price of 5%. That is decrease than the year-to-date, common year-over-year development price of 14% for skilled staffing hours.
Hours labored in industrial occupations fell 12% yr over yr. Throughout the month of October, hours labored in industrial staffing by a mean year-over-year development price of 6%. The year-to-date common year-over-year development price for industrial staffing hours stands at 1%.
|Week ending Nov. 5, 2022||Listed worth||12 months over yr||Week over week|
The SIA | Bullhorn Staffing Indicator measures hours labored. It contains two units of analyses: a year-over-year comparability displaying how the latest week in comparison with the identical week 12 months beforehand and an listed worth that has been benchmarked in opposition to knowledge from the week ended Jan. 19, 2019.
Demand for non permanent staffing companies traditionally exhibits some sample of a seasonal ramp within the fourth quarter. Nevertheless, this yr the staffing trade faces headwinds associated to persistent inflation, rising rates of interest and provide chain disruptions.
Within the week ended Nov. 5, the index worth was 103, following readings of 104 and 107 within the prior two weeks as revised.
The complete report on the SIA | Bullhorn Staffing Indicator, which offers extra data, is accessible on-line.