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The Canadian staffing index fell to a reading of 99 in December, a 16 percent drop from November’s reading of 118 and a 2 percent slip from the year-ago reading of 101. The Association of Canadian Search, Employment and Staffing Services produces the index in conjunction with Staffing Industry Analysts.
The decline in the index value from November to December was somewhat greater than the seasonal pattern of decline observed at this time of year during the four previous years, when the decline averaged 8 percent.
“The steep drop in billed hours in December punctuates the trend of decelerating year-over-year growth in the index over the last four months of 2012,” said Timothy Landhuis, research analyst at Staffing Industry Analysts. “The December index value also breaks the streak of 34 months without a year-over-year decline. When the January index value is published next month, we will have a better idea of whether or not the December year-over-year decline is a trend or the result of one-time factors.”
The index is based upon reported billed hours for temporary staffing from a survey of leading staffing firms. The index value of 100 corresponds to the size of the industry in July 2008, when the index began.