Positive Results from Canada's Staffing Index
Positive Results from Canada's Staffing Index in June
More Signs of Economic Recovery from ACSESS
The June 2010 Canadian Staffing Index was released this week by the Association of Canadian Search, Employment & Staffing Services (ACSESS).
June's Index showed a significant increase of 7 points over the May score representing the highest score in over 18 months. Since June 2009 the index has recovered 18 index points but is still 14 points off the benchmark 100 set in July 2008.
While single month differences can fluctuate based on available billing hours, seasonal differences, summer employment and other trends, overall the index is a very positive sign for Canada's economy. The temporary workforce is returning to pre-recession levels, meaning that companies are cautiously ramping up their workforces.
While still some way to go, the Staffing Index would suggest that we remain on a steady, if somewhat slow economic improvement. The industry expects July numbers to reflect increased holidays and vacations, resulting in a lower index number. That trend should revert to being positive in the Fall.
"Canada's staffing industry is encouraged by these results and we feel this is a true "pulse" on the economy here. Cautious optimism and a gradual steady recovery remains the watchword according to the Canadian Staffing Index." said Steve Jones, President of ACSESS.
ACSESS' belief that the Index is a "real time" indicator of the current state of the economy becomes stronger with each month that data is released. Numerous ACSESS members in regions across Canada have reported a significant increase in recruitment activity and are anxious to see how this will be reflected in upcoming numbers that are expected to be high during the fall months, traditionally the busiest quarter for staffing firms.