Certainly, those graphs look like a swoosh or checkmark to me! I’m very excited to see that all major YTD numbers are now nearing or above pre-COVID levels.
It’s interesting to me how consistent, week-after-week, the recovery has been for the last 4 months. To me, this indicates the minor impact the second wave of COVID, social unrest, election hype, lack of a new unemployment stimulus, and various other factors have had on the staffing recovery. This gives me even more optimism that the underpinnings of our economy are healthy, specifically that our society needs production and work. I believe there is a significant chance that the percentage of contingent employment in the country will skyrocket in the next 12 months.
But back to the numbers – here is Week 33!
One aspect that I’ll periodically share, is the bi-weekly notion of our Gross Payroll. I’m happy to go into detail on the math, but I believe we are collectively better served to keep things simple. In our system, hours and assignments are entered weekly, but the corresponding payroll is bi-weekly. For the Gross above, we see -.1% for the week. Comparing this to Week 31 – the previous bi-weekly period – Gross is up 3.2% in total, or 1.6% on average per week. Going forward, I’ll just do a footnote comparing gross to the previous bi-weekly cycle.
We are also tracking our distinct users as a proxy to see what staffing companies are thinking from an internal staff point of view. Week 33 continued a positive trend with a significant .7% increase. Clearly there is a lag in hiring as companies want to make sure the trend continues and also recover from the downturn.
The rate of change shows the percentage movement week-over-week so that we can get a sense of trending up (or down) faster or slower.
For those new to the Avionté RAW series, the numbers reflected are based on an aggregation of hosted Avionté data from hundreds of customers across the US and Canada.
Written by, John Long, Avionté, Founder & Co-Chairman, and Natalie Flint
About Avionté
Avionté is a leader in enterprise staffing and recruiting software solutions, offering innovative end-to-end staffing solutions to over 900 customers and 25,000 users throughout the U.S. and Canada. Avionté delivers a robust platform for clerical, light industrial, IT, and professional staffing firms to maximize profits and boost productivity.
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