Human Resource & Employment Services
Human Resource & Employment Services is losing market weight. Lost weight for 3 consecutive months.
Most of this industry's losses came from a few companies.
Where did the weight change come from?
12-month contribution in universe percentage points · contributions add to the industry change
The three largest same-direction contributors explain 100% of gross losses. Opposing contributions can make an individual company’s change larger than the industry’s net change.
How has it moved through history?
Share of matched S&P 500 members
Dec 2018 – Nov 2023 · market weight (%)
Relative performance
Industry return versus ACWI · no future data shown
Is participation broad or concentrated?
Actual constituent counts at this date, not the legacy synthetic breadth proxy
This is size concentration, not contribution to the 12-month change. The attribution above measures the latter.
Evidence can disagree
Independent dimensions · no combined score or bullish/bearish verdict
Other evidence and availability
Valuation data: unavailable; shown as zero placeholder.
Attention data: unavailable; shown as zero placeholder.
Actual fund flows: unavailable. No ETF, mutual-fund or institutional flow feed is connected.
Volume / turnover: unavailable in this dataset.
Follow the contribution to individual companies
Sorted by absolute 12-month weight contribution, not investment merit
| Company | Sub-industry | Country | Universe weight | 12M contribution | 12M price return | Revisions |
|---|---|---|---|---|---|---|
| Automatic Data Processing → ADP | Human Resource & Employment Services | United States | 0.295% | -0.077 pp | -11.1% | 0.0 |
| Paychex → PAYX | Human Resource & Employment Services | United States | 0.137% | -0.014 pp | +1.3% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Nov 2023 | 0.432% | -0.010 pp | -0.043 pp | +0.125 pp | -0.091 pp | -16.9% |
| Oct 2023 | 0.442% | -0.028 pp | +0.121 pp | +0.000 pp | -0.066 pp | -15.5% |
| Sep 2023 | 0.470% | -0.005 pp | +0.167 pp | +0.014 pp | -0.058 pp | -10.8% |
| Aug 2023 | 0.475% | +0.153 pp | +0.168 pp | +0.015 pp | -0.048 pp | -8.2% |
| Jul 2023 | 0.321% | +0.018 pp | -0.120 pp | -0.142 pp | -0.184 pp | -8.2% |
| Jun 2023 | 0.303% | -0.003 pp | -0.152 pp | -0.205 pp | -0.198 pp | -9.8% |
| May 2023 | 0.307% | -0.135 pp | -0.153 pp | -0.217 pp | -0.190 pp | -8.2% |
| Apr 2023 | 0.442% | -0.014 pp | -0.022 pp | -0.066 pp | -0.053 pp | -4.3% |
| Mar 2023 | 0.456% | -0.004 pp | -0.052 pp | -0.073 pp | -0.032 pp | +2.4% |
| Feb 2023 | 0.460% | -0.003 pp | -0.063 pp | -0.062 pp | +0.013 pp | +14.3% |
| Jan 2023 | 0.463% | -0.044 pp | -0.044 pp | -0.041 pp | +0.029 pp | +17.4% |
| Dec 2022 | 0.508% | -0.016 pp | -0.020 pp | +0.007 pp | +0.017 pp | +16.2% |
| Nov 2022 | 0.524% | +0.016 pp | +0.001 pp | +0.027 pp | +0.050 pp | +27.7% |
| Oct 2022 | 0.508% | -0.021 pp | +0.003 pp | +0.013 pp | +0.043 pp | +32.0% |
| Sep 2022 | 0.528% | +0.006 pp | +0.027 pp | +0.041 pp | +0.089 pp | +39.7% |
| Aug 2022 | 0.522% | +0.018 pp | +0.026 pp | +0.075 pp | +0.089 pp | +38.5% |
| Jul 2022 | 0.505% | +0.004 pp | +0.010 pp | +0.071 pp | +0.059 pp | +29.7% |
| Jun 2022 | 0.501% | +0.005 pp | +0.014 pp | +0.010 pp | +0.066 pp | +27.8% |
| May 2022 | 0.496% | +0.001 pp | +0.050 pp | +0.022 pp | +0.067 pp | +27.5% |
| Apr 2022 | 0.495% | +0.007 pp | +0.061 pp | +0.031 pp | +0.079 pp | +30.9% |
| Mar 2022 | 0.488% | +0.041 pp | -0.003 pp | +0.048 pp | +0.261 pp | +20.9% |
| Feb 2022 | 0.447% | +0.013 pp | -0.027 pp | +0.013 pp | +0.232 pp | +15.2% |
| Jan 2022 | 0.434% | -0.056 pp | -0.030 pp | -0.012 pp | +0.189 pp | +15.0% |
| Dec 2021 | 0.491% | +0.017 pp | +0.052 pp | +0.056 pp | +0.049 pp | +22.1% |
| Nov 2021 | 0.474% | +0.009 pp | +0.040 pp | +0.045 pp | +0.015 pp | +12.1% |
| Oct 2021 | 0.464% | +0.025 pp | +0.018 pp | +0.049 pp | +0.004 pp | +7.9% |
| Sep 2021 | 0.439% | +0.006 pp | +0.004 pp | +0.212 pp | +0.439 pp | +14.9% |
| Aug 2021 | 0.433% | -0.013 pp | +0.004 pp | +0.219 pp | +0.433 pp | +19.5% |
| Jul 2021 | 0.446% | +0.011 pp | +0.031 pp | +0.201 pp | +0.446 pp | +21.1% |
| Jun 2021 | 0.435% | +0.006 pp | +0.208 pp | -0.007 pp | +0.434 pp | -0.1% |
| May 2021 | 0.429% | +0.014 pp | +0.215 pp | -0.030 pp | +0.429 pp | -1.8% |
| Apr 2021 | 0.416% | +0.189 pp | +0.171 pp | -0.045 pp | -0.076 pp | -7.9% |
| Mar 2021 | 0.227% | +0.012 pp | -0.215 pp | +0.226 pp | +0.226 pp | -5.1% |
| Feb 2021 | 0.214% | -0.031 pp | -0.244 pp | +0.214 pp | +0.214 pp | -10.0% |
| Jan 2021 | 0.245% | -0.197 pp | -0.216 pp | +0.245 pp | -0.272 pp | -14.5% |
| Dec 2020 | 0.442% | -0.017 pp | +0.441 pp | +0.441 pp | -0.070 pp | -7.1% |
| Nov 2020 | 0.459% | -0.002 pp | +0.458 pp | +0.458 pp | -0.069 pp | -7.3% |
| Oct 2020 | 0.461% | +0.460 pp | +0.460 pp | -0.031 pp | -0.062 pp | -4.7% |
| Sep 2020 | 0.000% | +0.000 pp | -0.000 pp | +0.000 pp | -0.530 pp | -17.0% |
| Aug 2020 | 0.000% | +0.000 pp | -0.000 pp | +0.000 pp | -0.560 pp | -24.9% |
| Jul 2020 | 0.000% | -0.000 pp | -0.492 pp | -0.516 pp | -0.544 pp | -21.9% |
| Jun 2020 | 0.000% | -0.000 pp | +0.000 pp | -0.511 pp | -0.547 pp | -8.9% |
| May 2020 | 0.000% | -0.492 pp | +0.000 pp | -0.527 pp | -0.585 pp | -13.4% |
| Apr 2020 | 0.492% | +0.492 pp | -0.025 pp | -0.031 pp | -0.076 pp | -5.7% |
| Mar 2020 | 0.000% | +0.000 pp | -0.511 pp | -0.530 pp | -0.565 pp | -3.8% |
| Feb 2020 | 0.000% | -0.516 pp | -0.527 pp | -0.560 pp | -0.546 pp | -0.9% |
| Jan 2020 | 0.517% | +0.005 pp | -0.006 pp | -0.028 pp | +0.232 pp | +8.2% |
| Dec 2019 | 0.512% | -0.016 pp | -0.019 pp | -0.036 pp | +0.223 pp | +5.3% |
| Nov 2019 | 0.528% | +0.005 pp | -0.033 pp | -0.058 pp | +0.229 pp | +5.9% |
| Oct 2019 | 0.523% | -0.007 pp | -0.022 pp | -0.045 pp | +0.229 pp | +6.0% |
| Sep 2019 | 0.530% | -0.030 pp | -0.017 pp | -0.035 pp | +0.236 pp | +9.5% |
| Aug 2019 | 0.560% | +0.016 pp | -0.025 pp | +0.014 pp | +0.268 pp | +17.3% |
| Jul 2019 | 0.544% | -0.003 pp | -0.023 pp | +0.260 pp | +0.053 pp | +21.8% |
| Jun 2019 | 0.547% | -0.038 pp | -0.018 pp | +0.258 pp | +0.040 pp | +18.3% |
| May 2019 | 0.585% | +0.018 pp | +0.039 pp | +0.287 pp | +0.095 pp | +29.8% |
| Apr 2019 | 0.568% | +0.002 pp | +0.283 pp | +0.274 pp | +0.112 pp | +34.8% |
| Mar 2019 | 0.565% | +0.019 pp | +0.277 pp | +0.271 pp | +0.121 pp | +37.2% |
| Feb 2019 | 0.547% | +0.262 pp | +0.248 pp | +0.254 pp | +0.100 pp | +31.8% |
| Jan 2019 | 0.285% | -0.004 pp | -0.009 pp | -0.207 pp | -0.168 pp | +21.6% |
| Dec 2018 | 0.289% | -0.010 pp | -0.006 pp | -0.219 pp | -0.164 pp | +22.2% |
How are these descriptive states defined?
Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.
Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.
Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.
Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.
Weights use matched S&P 500 members’ market-cap estimates, based on SEC-reported shares available by each month-end and monthly closing prices. Companies without a matched price or share record are omitted, so the denominator is the matched sample rather than every index member. These are not official float-adjusted S&P weights. Flow is not measured.