US Business Services Weekly Datapoints and Week Ahead

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US Business Services Weekly Datapoints and Week Ahead

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US Business Services Equities

AmericasWeekly Datapoints and Week Ahead

Industrial Services

Joshua Chan, CFA

ASA Index Steps Up Analyst

The ASA Staffing Index, which tracks changes in temporary and contract employment, joshua.chan@ubs.com

for the week ending 6/21 was +7.5% yoy, better than +5.6% in the prior week and the +1-212-713 9957

strongest yoy compare since September 2022. The rolling 4-week average was +5.9%, Karandeep Singhania

up from +5.3% in the previous week. Associate Analyst

karandeep.singhania@ubs.com

SIA Index Back into Negative Territory +1-212-713 4211

The SIA Bullhorn Staffing Indicator, which tracks temporary staffing hours worked based Brianna Kamdoum

on the Bullhorn software, was -2% yoy for the week ending 6/20, down from flat in the Associate Analyst

prior week. Commercial staffing was -4% yoy, down from -1% in the previous week brianna.kamdoum@ubs.com

+1-212-882 5027

driven by Light Industrial staffing declining (-2%) and Office/Clerical weakness persisting

(-14%). Professional staffing declined to flat, down from +2% in the the previous week,

while IT staffing was -1% yoy, down from flat in the prior week. On a rolling 4-week

basis, the headline index was +1% yoy, down from +3% in the previous week. Over

time, the ASA and SIA data have very strong correlation, but occasionally the indices do

diverge over short periods of time. The current divergence is worth watching because

staffing data has generally been on an improving trajectory, notwithstanding the SIA's

recent more negative turn.

UBS Evidence Lab US Active Job Listings Declines Slightly

According to the UBS Evidence Lab US Job Listings Monitor (> Access Dataset), which