The SIA | Bullhorn Staffing Indicator Tracks Latest Trends in Temporary Work
BOSTON and MOUNTAIN VIEW, Calif., April 8, 2021 /PRNewswire/ -- Bullhorn, the cloud computing company that helps staffing and recruiting organizations transform their businesses, and Staffing Industry Analysts (SIA) today announced the launch of the SIA | Bullhorn Staffing Indicator. A unique new tool for gauging current weekly trends in the volume of temporary staffing delivered by US staffing firms, the SIA | Bullhorn Staffing Indicator can be used by staffing firms to benchmark their performance and forecast industry trends and outlook. With the US temporary staffing industry often functioning as a lead indicator for the US economy and labor market, the SIA | Bullhorn Staffing Indicator is also useful for business leaders, investors and market observers seeking forward-looking insight.
Reflecting the number of hours worked per week by US temporary workers, the Indicator is a joint custom research initiative produced weekly by SIA and Bullhorn. Bullhorn provides anonymized, aggregated data based on hours worked at a variety of staffing firms, and SIA has developed a comprehensive methodology for publishing the Indicator. The Indicator comprises metrics representing total US Staffing (total market), Professional Staffing (IT, healthcare, finance, engineering, etc.) and Commercial Staffing (light industrial and office/clerical). Additional information on the data and detailed methodology can be found on Bullhorn and SIA's websites.
"The SIA | Bullhorn Staffing Indicator extends market knowledge with near real-time trends in temporary staffing," said Art Papas, CEO at Bullhorn. "We are excited to give the industry a closer understanding of shifts in temporary staffing volume of professional and commercial workers on a week-by-week basis and allow companies a more immediate insight into how the market is trending."
"The Indicator is weighted based on a significant sample of the US staffing industry, covering a wide range of occupations, industry verticals and with a geographic footprint spanning the country," said Barry Asin, President at SIA. "We are pleased to add real-time performance data in both commercial and professional staffing to our analytical tools through the Indicator."
Year-over-year change in the US Staffing, Professional Staffing, and Commercial Staffing Weekly Hours Worked
For the week ending April 3rd, US Staffing was up 22% year-over-year, reflecting the current trend of recovery in the US economy a year out from the start of pandemic-related lockdowns and their subsequent impact. Professional Staffing volume climbed 32% year-over-year for the week, driven by high levels of growth in healthcare staffing due to the pandemic, as well as demand in certain areas of IT staffing. Commercial Staffing volume rose 18% year-over-year, showing significant improvement after sharper declines during 2020 and suggesting recovery from the pandemic in terms of hours worked is on firm ground.
Values for US Staffing, Professional Staffing, and Commercial Staffing
On a week-over-week sequential basis, professional temporary staffing hours were roughly unchanged while commercial temporary staffing hours worked decreased 2% as compared to the week ending March 27th.
The SIA | Bullhorn Staffing Indicator is updated weekly, with detailed insight and analysis on values, trends and projections provided on a quarterly basis. The Indicator is indexed to business volumes in the week ending January 19, 2019, which is set at 100.
About Staffing Industry Analysts (SIA)
Known for our award-winning content, data, support tools, publications, executive conferences and events, we help both suppliers and buyers of workforce solutions make better-informed decisions that improve business results and minimize risk. As a division of the international business media company, Crain Communications Inc., SIA is headquartered in Mountain View, California, with offices in London, England.
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SOURCE Staffing Industry Analysts