Understanding The ACSESS Canadian Staffing Index For current reports contact email@example.com
What is it? • The Index measures the hours or labour performed by temporary and contract staff. • The data collected is the largest sample size done in Canada. • The data is provided by a representative number of Canadian staffing companies in provinces across the country and accounts for about one third of total staffing industry sales. • The information is collected on a monthly basis with the initial capture dating back to July 2008.
What is it? (continued) • The data is collected by Staffing Industry Analysts; an independent company specialized in staffing industry statistics. www.staffingindustryanalysts.com • To preserve confidentiality SIA collects and tabulates the data and reports the aggregate results to ACSESS on the 15th of the month following. • Data is available for the months July 2008 (the benchmark month) through to March 2011.
Why is the Data Significant? • In review of similar Index research from the USA many experts agree the staffing industry employment data serves as an economic indicator. • Historically, temporary employment improves as overtime hours increase and as unemployment claims decrease. • ACSESS believes there is a close correlation between staffing industry performance and the state of the economy. 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.” • Steve Jones, 2008-2011National President, ACSESS
Interesting Economics • The Index lowest recording was in the middle of the recent recession in May 2009 at 65. This low was down 35% from July 2008 when the Index began. • While the Index is not back to pre-recession levels, the trend in year-over-year growth is indicative of a solid recovery in temporary and contract staffing. • Since July 2008 the Index has shown a continued but slow economic recovery.
The close correlation between the two charts gives credence to the accuracy of the Canadian Staffing Index. • Interesting to note, while the Canadian Staffing Index declined faster than the US Pulse Survey during the recession, it now appears to be outgrowing the U.S. industry on the upswing. • Source: Staffing Industry Analysts, ACSESS
About ACSESS • The single voice for promoting best practices and ethical standards for the recruitment, employment and staffing services industry in Canada. • Over 500,000 Canadians are employed in temporary and contract positions every business day. • ACSESS represents over 300 member companies with over 1,200 branch offices. (representing 85% of the Canadian staffing revenue)
Ontario comprises 57% of the $9.2 billion employment services market. • While Ontario may be the largest, Alberta and B.C. have been growing faster, rising in share of revenue from 13% to 20% and from 5.0% to 7% between 2002 and 2008. Source: Statistics 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 Los Altos, California. For more information visit: www.staffingindustry.com
Need More Information About The Canadian Staffing Index? Contact: ACSESS (Association of Canadian Search, Employment & Staffing Services) 905-826-6869 / 1-888-232-4962 www.acsess.org