The Canadian Staffing Index was 69 in May. The Canadian Staffing Index reflects the volume of labor supplied by temporary staffing agencies in Canada. It is based upon the number of billed hours reported by a monthly panel of leading staffing firms, and the index is not adjusted for seasonal factors. The index value of 100 corresponds to the size of the industry in July 2008, when the index began.
“In May, the index was down 35% y/y due to the impact of the pandemic,” says Timothy Landhuis, research director at Staffing Industry Analysts. “Nevertheless, as there were two fewer working days in May this year versus last year, the days-adjusted decline suggests modest improvement from conditions in April.”
The Canadian Staffing Index measures the hours of labour performed by a sampling of temporary and contract staffing in the staffing industry. The data collected is the largest sample size done in Canada provided by a number of Canadian staffing companies and accounts for approximately one third of total staffing industry sales. To preserve confidentiality the data is collected by Staffing Industry Analysts www.staffingindustry.com; an independent company specialized in staffing industry statistics. Data is available for the months starting July 2008 (the benchmark month) to the current month.
In review of similar Index research from the USA, many experts agree staffing industry employment data serves as an economic indicator. Historically, temporary employment improves as overtime hours increase and as unemployment claims decrease. This means the Index can provide a "near real time" indication of how the Canadian economy is performing.
"The Canadian Staffing Index demonstrates both the changes in the Canadian economy and the volatile nature of the staffing business. It is that ability to provide a flexible workforce that brings tremendous value to our clients."
For more information regarding the Canadian Staffing Index contact:
Mary McIninch, B.A.,LL.B
Executive Director, Governement Relations
1-888-232-4962 / 905-826-6869