Staffing Industry Trends: Avionté RAW – Real Analytics Week 45
Week 45 was a slightly positive bounce back week from last week, led by Assignments posting a robust 2.4% gain. The other major indices were positive, but only slightly so.
This RAW is for week 49, the full week after Thanksgiving (week 48). With many businesses shutting down for the day after Thanksgiving, the variability is material. Notice on the chart below that we did a two-week comparison, instead of the week over week, to provide better context.
In general, the industry continued to move forward with Hours growing by 1.6% in the past two weeks and Assignments up .7%. I’m also encouraged with New Talent being up 3.7%, an indication of more people entering the contingent workforce.
In looking at YTD numbers, two trends have continued throughout the year:
Both of these trends should be positive for staffing firms. An increase in average hours per assignment typically doesn’t include extra work for the staffing company, and clearly, having margins increase flows to the bottom line.
I do find it interesting that staffing companies have continued with a double-digit growth rate, but are doing so with significantly less people (-8.4%). I believe hiring will continue in Q1, even if assignments/hours growth tempers.
For those new to the Avionté RAW staffing statistics series, the numbers reflected are based on an aggregation of hosted Avionté data from hundreds of staffing and recruiting companies across the US and Canada.
Written by, John Long, Avionté, Founder & Co-Chairman, and Natalie Flint
Avionté is a leader in enterprise staffing and recruiting software solutions, offering innovative end-to-end staffing software solutions to over 900 customers and 25,000 users throughout the U.S. and Canada. Avionté delivers a robust platform for clerical, light industrial, IT, and professional staffing firms to maximize profits and boost productivity.
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