Hours worked in the US staffing industry decreased 9% year over year in the week ended Nov. 5, according to the SIA | Bullhorn Staffing Indicator, released today.
The decline was driven by a slowdown in demand for commercial staffing, while the momentum with professional staffing remains more favorable.
Hours were down 1.8% week over week.
Professional staffing edged down 1% year over year. In October, professional staffing hours increased by an average year-over-year growth rate of 5%. This is lower than the year-to-date, average year-over-year growth rate of 14% for professional staffing hours.
Hours worked in commercial occupations fell 12% year over year. During the month of October, hours worked in commercial staffing by an average year-over-year growth rate of 6%. The year-to-date average year-over-year growth rate for commercial staffing hours stands at 1%.
|Week ending Nov. 5, 2022||Indexed value||Year over year||Week over week|
The SIA | Bullhorn Staffing Indicator measures hours worked. It comprises two sets of analyses: a year-over-year comparison showing how the most recent week compared to the same week 12 months previously and an indexed value that has been benchmarked against data from the week ended Jan. 19, 2019.
Demand for temporary staffing services historically shows some pattern of a seasonal ramp in the fourth quarter. However, this year the staffing industry faces headwinds related to persistent inflation, rising interest rates and supply chain disruptions.
In the week ended Nov. 5, the index value was 103, following readings of 104 and 107 in the prior two weeks as revised.
The full report on the SIA | Bullhorn Staffing Indicator, which provides additional information, is available online.