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Canada's Staffing Index up, pre-recession levels in sight

Canada's Staffing Index up, pre-recession levels in sight

With the release of the Canadian Staffing Index for June, 2011, the Association of Canadian Search, Employment and Staffing Services

(ACSESS) is reporting that all signs continue to point toward the slow and steady recovery of both the staffing industry and the Canadian economy. Each month, the Canadian Staffing Index is compiled by Staffing Industry Analysts (SIA).

“Although the Staffing Index remains below the pre-recession 100 level, it is continuing along an encouraging trajectory. On the ground, ACSESS members are reporting anecdotally that temporary assignments are lengthening, more employers are hiring permanent employees with the assistance of staffing companies, and there is a return to the traditional and predictable seasonal fluctuations in Temporary hours,” explained

ACSESS President, Bryan Toffey, adding that, “These are all signs of stability and cautious optimism in the Canadian employment market.”

SIA echoed Toffey’s remarks. "Though the Canadian Staffing Index is showing gradual year-on-year growth, this merely reflects the depth of the contraction that occurred during the most recent recession. Current year-on-year growth rates in the mid-to-high single digits are consistent with an on-going recovery in the Canadian staffing industry and overall economy," said SIA Research Associate, Robert Balicki.

Toffey also noted that the moderate pace of economic recovery demonstrated by the index is likely due in part to persistent uncertainty in US and global financial storylines. An Index score of 90 measures the hours of labour performed by temporary and contract staff in June of 2011 compared to the benchmark index of 100 established in July of 2008.

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