TSE Index Week 15
The TSE Index for last week was 155.6, up one point from the previous week.
Inflation in Canada increased to 2.3 % in March, although this was less than economists forecast and mainly due to energy costs. Further, retail sales in February fell short of forecasts. Although we continue to see the economy growing, inflation expectations continue to lag. One explanation could be that although wage pressure is rising, companies are forced in a global economy to find efficiencies, and competition can force gross margins to decrease. We certainly see this in our industry over the past few years.
Speaking to availability of talent, the number of people receiving Employment Insurance benefits in February dropped to the lowest level since 1997, when current record keeping started. Many of you have continued to comment on the number of orders going unfilled due to lack of qualified individuals seeking employment.
If we didn’t have these challenges, customers wouldn’t need us as much!
The Staffing Edge provides back office services to more than 120 independently owned staffing offices across Canada and the index is a weekly aggregate of the business level of the staffing industry. With the value of 100 being reached in 2008, the index shows the variations in the industry over the last four years. Released each Friday for the temporary / contract work completed the previous week, the TSE Index is a real time indication of business volumes from all sectors of staffing.