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SIA Weekly Chart - June 1, 2024

US staffing hours down due to Memorial Day

US staffing hours fell 6% from last week as a result of the short holiday week. Professional hours fell by 5.9% and commercial hours fell by 6.5%.

*Indexed value of US staffing hours benchmarked against the week ending January 19, 2019.

US Staffing Indicator down due to short holiday week

Commentary for the week ending June 1, 2024

  • The overall index value for the US staffing industry fell to 79 after two weeks at 84.
  • The professional staffing indicator fell to 111 after two weeks at 119.
  • The commercial staffing index value fell to 66 after two weeks at 70.
Indicator values for US Staffing, Professional Staffing, and Commercial Staffing

The graph is interactive.

Year-over-year gap in staffing hours remains

  • Overall, staffing hours are 12% below the same week last year for the second week in a row.
  • The year-over-year gap has remained between 12% and 14% since early February.
  • Professional staffing is 9% below the same week in 2023, compared to 10% last week.
  • Commercial staffing hours are 13% below 2023 levels after two weeks at 12%.
Year-over-year change in the US staffing, professional staffing, and commercial staffing weekly hours worked

The graph is interactive.

Staffing Industry Analysts' perspective

Hours worked in the US staffing industry in the week ending June 1st decreased by -12% year-over-year. Commercial staffing hours were down -13% while Professional staffing hours were down -9%.

However, we notice that the Y/Y comparisons have appeared to improve since the beginning of the year for Commercial Staffing, and since March for Professional Staffing.

Year-to-date, the median Y/Y growth rate is -13% for Commercial staffing, -11% for Professional staffing. By comparison, last year’s median Y/Y growth rate was -11% for Commercial staffing and -6% for Professional staffing.

Two men looking at an open laptop

The US staffing industry is a large and dynamic market that continues to offer big opportunities

The sequential drops resulting from the Memorial Day holiday related business closures appear to be within the range of week-on-week change values observed for the same holiday since 2021. We will be following closely the momentum post-Independence Day holiday.

The year-over-year decline in the Indicator is directionally in line with the decline in temporary help employment as reported in the Bureau of Labor Statistics’ monthly Employment Situation reports. The (published on June 7th) estimates that employment in the temporary help services industry fell by -6.5% in May 2024, on a Y/Y basis; and declined by -0.5% when compared with April 2024.

With most economists projecting solid growth in the US economy this year (real GDP growth of 2% or higher), we are keeping our eyes open for signs of an eventual uptick in demand for temporary staffing.

Competitive pressures remain elevated but there are continuing and large opportunities for those staffing firms that have developed a competitive advantage via either their technology, their service offerings, or both. For more discussion of the market dynamics for each skill segment of staffing, SIA Corporate Members are encouraged to read our latest , published on March 27th.

About the SIA 㽶Ƶ Staffing Industry Indicator

The SIA | 㽶Ƶ Staffing Indicator is a unique tool for gauging near real time weekly trends in the volume of temporary staffing delivered by US staffing firms. Each week the Indicator reports data for the week that ended ten days prior to the release. It reflects weekly hours worked by temporary workers across a sample of staffing companies in the US that utilize 㽶Ƶ’s technology solutions. The Indicator is weighted and benchmarked against US Bureau of Labor Statistics data to approximate the composition of the staffing industry by skill. While the indicator does not presume to perfectly reflect the entire universe of US staffing firms, it does represent a sizable sample of the US staffing industry, reflecting a wide range of occupations, client industry verticals, and geographic footprint that spans the country.

The Indicator can be used by staffing firms to benchmark their past and current performance, as well as a tool for forecasting near term industry trends and outlook.

As the US temporary staffing industry has often functioned as a co-incident indicator for the US labor market and economy, the SIA | 㽶Ƶ Staffing Indicator is also useful for a broader audience of business leaders and investors who are seeking real-time insight.

The Indicator is a joint custom research effort between 㽶Ƶ and industry advisor Staffing Industry Analysts.

Revisions and Technical notes on the SIA | 㽶Ƶ Staffing Indicator 

We note the readings for the last 4 weeks are subject to revision and so should be viewed as preliminary, with the reading for the last recorded week the most likely to be revised in next week’s data release. For further information on how the Indicator has been created and detailed technical notes please refer to the .