Canadian Staffing Index Continues to Demonstrate Recovery
MISSISSAUGA, ON, April 21 /CNW/ - The February 2010 version of the Canadian Staffing Index was released by the Association of Canadian Search, Employment & Staffing Services (ACSESS) today. ACSESS believes there is a close correlation between staffing industry performance and the state of the economy, hoping that in time this index could provide a "near real time" indicator of the current state of the Canadian economy. As each month's number is released this correlation becomes more and more evident.
The index uses July 2008, prior to the recession as a benchmark index of 100 and tracks the number of hours worked by flexible and contract workers, therefore tracking the performance of the industry on a monthly basis. The following are some observations based on the latest results:
- February 2010 saw an almost 3% increase month over month from January
- Although the numbers are 29% off the July 2008 benchmark they have
seen a gradual increase of 8% from the low numbers in May 2009.
ACSESS believes this modest upturn in February supports the anecdotal evidence from ACSESS members that the economy is improving. Numerous ACSESS Members in regions across Canada have reported a significant increase in activity and are anxiously waiting to see if this will be reflected in the upcoming March numbers which will be released shortly.
"These recent statistics accurately reflect what is happening in Canadian businesses on a real time basis. Staffing services provide a valuable, dynamic, 'just-in-time' delivery of labour to businesses when they need it. As a result, these numbers predict that the more traditional lagging statistical measures such as the Canadian Employment data will reflect continued moderate employment growth through April and May," said Steve Jones, ACSESS National President.
About the Canadian Staffing Index:
The data is collected by Staffing Industry Analysts, an independent company specialized in the staffing industry.
The data is provided by a representative number of Canadian staffing companies providing services in the provinces across the country.
The data is collected on a monthly basis, with the initial data capture dating back to July 2008, providing real historical insight into the Canadian staffing landscape.
ACSESS believes that this "real data" supports U.S evidence that the Staffing Industry is a barometer of economic performance, and will provide information for economists, politicians, analysts, researchers and journalists in addition to members of the staffing industry.
ACSESS is the single voice for promoting best practices and ethical standards for the recruitment, employment and staffing services industry in Canada. For more information visit: www.acsess.org
About Staffing Industry Analysts
Staffing Industry Analysts is the premier research and analysis firm covering temporary employment and the contingent workforce. Known for its independent and objective insights, the company's proprietary research, data, support tools, publications and executive conferences provide a competitive edge to decision-makers who supply and buy temporary staffing. In addition to temporary staffing, Staffing Industry Analysts also covers these related staffing sectors: third party placement, and staff leasing (PEOs). Founded in 1989, the company is headquartered in Los Altos, California. For more information visit: www.staffingindustry.com.
SOURCE ACSESS - Association of Canadian Search, Employment and Staffing Services
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