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The U.S. producer price index for employment services posted its largest year-over-year increase in May — up 1.9 percent to a level of 128.5 — since December 2010, according to data from the U.S. Bureau of Labor Statistics that was not adjusted for seasonality. Despite the year-over-year rise in May, the employment services index was down 0.2 percent compared to April.
Producer price indexes track the change in price received by service producers over time. The change in price is measured from the perspective of the seller, in this case staffing firms.
The employment services industry includes employment placement agencies, temporary help services, executive search services and professional employer organizations.
Employment services is just one industry tracked by the producer price indexes.
Click on chart below to enlarge.