Canada's Staffing Index mirrors recent economic slowdown

MISSISSAUGA, ON, Sept. 7, 2011 /CNW/ - The Canadian Staffing Index dropped five points in July, which was more than the expected summer slowdown, and most likely the result of a contracting Canadian economy, reports the Association of Canadian Search, Employment and Staffing Services (ACSESS).

"The considerable slowdown of global economic growth in recent months has resulted in many Canadian firms reigning in on their usage of temporary employees," explained ACSESS President, Bryan Toffey.

SIA Research Associate, Robert Balicki, was quick to point out that this was the first time since the beginning of the recovery that the Canadian staffing industry did not improve upon the same period the year before. "The last time the Canadian Staffing Index failed to register a year-over-year gain was 17 months ago," he said.

Toffey went on to caution against pushing the panic button prematurely. "We typically experience a reduction in hours during the month of July due to scheduled plant closures and the flood of high school students into the employment market. We expect to see the Index get back on track between August and November, especially considering these are some of the busiest months for staffing companies. We concur with Statistics Canada, who have projected a return to modest growth in the second half of the year."

An Index score of 85 measures the hours of labour performed by temporary and contract staff in July of 2011 compared to the benchmark index of 100 established in July of 2008.

ACSESS is the single voice for promoting best practices and ethical standards for the recruitment, employment and staffing services industry in Canada. Each month, ACSESS publishes the results of the Canadian Staffing Index, an independent survey conducted by Staffing Industry Analysts. The data collected for the Canadian Staffing Index is the largest sample size ever collected in Canada.

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 Mountain View, California. For more information

SOURCE ACSESS - Association of Canadian Search, Employment and Staffing Services

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ACSESS - Association of Canadian Search, Employment and Staffing Services

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