AIS | Bullhorn staffing indicator
Trade staffing continues to ramp up in the third week of February
|Week ending February 19, 2022||Indexed value||Y/Y||W/W|
|United States Staffing||112||17%||0.6%|
Published weekly, the SIA | Bullhorn Staffing Indicator includes two sets of analysis; a year-over-year comparison showing how the most recent week compares to the same week 12 months prior and an indexed value that was compared to data for the week ending January 19, 2019.
Year-over-year changes for the week ending February 19
Temporary staff hours worked last week (the week ending February 19) increased by 17% compared to the corresponding week a year ago, according to the Indicator.
Hours worked by temporary staff in the liberal professions (IT, health, finance, engineering, etc.) increased by 24% year-on-year.
Temporary work hours in commercial occupations (industrial and clerical/clerical) increased by 12% year-on-year.
On a sequential week-over-week basis, hours worked by temporary staff increased by 0.6%. Commercial acting hours increased by 0.9% while professional acting hours decreased by 0.3%.
Year-over-year change in US personnel, professional personnel and commercial personnel
Commentary for the week ending February 19
The indexed Professional Staffing value was 145 last week, after readings of 145 and 145 in the previous two weeks (ending Feb. 12and and February 12andrespectively.)
The indexed value of the trading endowment was 97 last week, after values of 97 and 96 in the previous two weeks.
The US staffing indexed value, weighted to reflect the US staffing industry’s mix of professional and commercial employment, was 112 last week, after readings of 112 and 111 in the over the previous two weeks, as shown in the graph below.
Values for US Personnel, Professional Personnel, and Commercial Personnel
Recruitment Industry Analyst Perspective
Last week, hours worked in the U.S. staffing industry rose 17% year-over-year, continuing the pattern of growth seen throughout 2021 and suggesting a strong start to 2022.
On a sequential week-over-week basis, staffing hours worked increased 0.6%, continuing the general seasonal trend in the staffing industry of increased volume of hours at the start of the year.
Sales headcount was up 12% from a year ago, and 7% from the same week two years ago (in 2020.)
Professional staffing increased 24% from a year ago and 41% from two years ago. Demand levels remain particularly robust for staffing in IT and healthcare professions.
Continued growth in hours worked by staff is consistent with the picture painted by the most recent BLS Jobs Report, which showed a gain of 26,300 jobs in January in the temporary help services sector, and an overall level of 3.09 million temporary help jobs, a figure that exceeds pre- pandemic.
Additionally, if the current downward trend in Covid cases and hospitalizations continues, economic growth appears on track to reach 3.5% GDP growth this year, an above-average rate that should be supportive. further expansion of the recruiting industry in the United States.
About SIA | Bullhorn staffing indicator
The SIA | Bullhorn Staffing Indicator is a unique tool for assessing near real-time weekly trends in the volume of temporary staffing provided by US staffing companies. Each week, the indicator reports data for the week ending on the previous Saturday. It reflects weekly hours worked by temporary workers at a sample of U.S. staffing firms that use Bullhorn’s technology solutions. The indicator is weighted and compared to data from the US Bureau of Labor Statistics to approximate the composition of the recruiting industry by skill. Although the indicator does not purport to fully reflect the entire universe of US staffing firms, it does represent a significant sample of the US staffing industry, reflecting a wide range of occupations, client verticals and industries. geographic footprint that spans the entire country.
The indicator can be used by recruitment companies to compare their past and current performance, as well as a forecasting tool for short-term industry trends and outlook.
As the US temp industry has often functioned as a coincident indicator for the US labor market and economy, the SIA | Bullhorn Staffing Indicator is also useful for a wider audience of business managers and investors who are looking for real-time information
The Indicator is a joint custom research effort between Bullhorn and recruitment industry analysts.
SIA Reviews and Technical Notes | Bullhorn staffing indicator
We note that the readings for the last 4 weeks are subject to revision and should therefore be considered preliminary, with the reading for the last recorded week being the most likely to be revised in next week’s data release. For more information on how the indicator was created and detailed technical notes, please refer to the methodology.
Input data for the SIA | Bullhorn Staffing Indicator can be downloaded using the link below: