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US staff hours were roughly flat in the second week of May
| Week Ending May 13, 2023 | indexed value | AND/AND | W/W |
| US Staffing | 95 | -9% | 0.4% |
| commercial staffing | 79 | -eleven% | 0.7% |
| Professional Staffing | 136 | -2% | -0.3% |
Introduction
Published weekly, the SIA | Bullhorn Staffing Indicator comprises two sets of analyses; a year-over-year comparison showing how the week ending ten days ago (“last measured week”) compares to the same week 12 months earlier, and an indexed value that was compared to data for the week ending January 13he2019.
Year-over-year changes for the week ending May 13
Temporary staff hours for the week ending May 13 (“last week measured”) were down -9% compared to the corresponding week a year ago, according to the Indicator.
Temporary staff hours completed in business occupations (industrial and clerical/administrative) decreased -11% year-over-year.
Temporary staff hours worked in professional occupations (IT, healthcare, finance, engineering, etc.) were down -2% year-over-year.
On a sequential week-over-week basis, hours worked by temporary staff increased slightly (0.4%). Commercial temp hours increased by 0.7%, while professional temp hours were broadly flat (-0.3%).
Year-over-Year Change in US Staff, Professional Staff, and Business Staff
Commentary for the week ending May 13
The indexed value for professional staffing was 136 for the week ending May 13, following readings of 137 and 135 in the previous two weeks (ending May 6).he and April 29herespectively.)
The indexed value of Commercial Personnel was 79 for the same week, following values of 79 and 79 in the two previous weeks.
The US Staffing Index Value, weighted to reflect the mix of professional and business jobs in the US staffing industry, was 95 for the week ending May 13, after readings of 95 and 95 in the previous two weeks, as shown in the chart below.
Values for US Staff, Professional Staff, and Business Staff
Staffing Industry Analyst Perspective
Hours worked in the US staffing industry for the week ending May 13 were down -9% year-over-year. Commercial staff hours decreased by -11%, while professional staff hours decreased by -2%.
Over the past five weeks, hours worked in trade occupations fell to an average year-over-year growth rate of -13%. During 2022, the average year-over-year growth rate of sales staff hours was -1%.
Over the past five weeks, hours worked in professional occupations decreased at an average year-over-year growth rate of -4%. Through the year 2022, the average annual growth rate of professional staff hours was 12%.
Compared to the same week two years ago (in May 2021), commercial staffing decreased -12% and professional staffing increased 10%.
The trend of decreasing hours worked is directionally consistent with the decline in temporary help employment as reported in the monthly Employment Status reports from the Bureau of Labor Statistics (the US May Jobs Report was published on May 5). Temporary employment services employment has fallen in each of the past three months and is now 35,200 below its December 2022 level. Regarding the full-year 2023 outlook, SIA projects a modest decline in employment. commercial staffing and mixed trends in professional staffing in terms of market size. For more details, SIA members can access our latest forecast reportposted on april 4he.
About the SIA | megaphone staffing flag
The AIS | The Bullhorn Staffing Indicator is a unique tool for measuring near real-time weekly trends in the volume of temporary staff turned over by US staffing companies. Each week, the indicator reports data for the week ending ten days prior to the post. Reflects weekly hours worked by temporary workers at a sample of US staffing companies using Bullhorn technology solutions. The indicator is weighted and compared to data from the US Bureau of Labor Statistics to approximate the composition of the staffing industry by skill. While the indicator is not intended to perfectly capture the entire universe of US staffing companies, it does represent a sizeable sample of the US staffing industry, reflecting a broad range of occupations , client verticals and geographic presence spanning the entire country.
The indicator can be used by staffing companies to compare their past and current performance, as well as a tool to forecast near-term industry trends and outlook.
Since the US temporary staffing industry has often served as a coincident indicator for the US labor market and economy, the SIA | Bullhorn Staffing Indicator is also useful to a broader audience of business leaders and investors looking for real-time information.
The indicator is a joint custom research effort between Bullhorn and industry advisor Staffing Industry Analysts.
AIS Technical Notes and Reviews | megaphone staffing flag
We note that the readings for the last 4 weeks are subject to revision and therefore should be considered preliminary, with the last week’s reading on record more likely to be revised in next week’s data release. For more information on how the Indicator was created and detailed technical notes, see the methodology.
SIA underlying data | Bullhorn Staffing Indicator can be downloaded using the following link:
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