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Growth in office/clerical staffing bill rates accelerated in the first part of 2013 with year-over-year growth reaching its fastest pace since early 2011, according to U.S. Bureau of Labor Statistics data included in a new report by Staffing Industry Analysts.
The report looks at producer price index data for temporary help services. The PPI measures the average change over time in the selling price.
In April, a three-month average of the PPI for office/clerical staffing rose 3.1 percent year over year. Growth had been in the 1 percent range for the second half of 2012.
“The 3.1 percent increase in the office/clerical producer price index implies that office/clerical bill rates have risen significantly relative to the overall level of inflation in the U.S. economy,” said Timothy Landhuis, research analyst at Staffing Industry Analysts. “For comparison, the core consumer price index grew 1.7 percent year over year during the same period. This recent spike in office/clerical bill rates would seem to signal strength of demand in this market, although we have not yet seen a similar uptick in our monthly Pulse survey. According to our April forecast, we project that the U.S. office/clerical temporary staffing market will grow 4 percent to reach $18.7 billion in 2013.”
Corporate members can download the complete report, “1Q13 gross margin and bill rate trends” by clicking here.