ASA Staffing Index Monthly Report, October 2024
Year-to-Year Gap Widens, New Starts Inch Up
Staffing employment declined during the week of Oct. 7-13, with the ASA Staffing Index decreasing by 1.5% down to a rounded value of 89. Staffing jobs were down 10.7% compared with the same week last year, widening the gap from 9.5% the previous week. Staffing companies listed no one primary factor that prevented further growth.
New starts inched up in the 41st week of the year, up 0.6% from the prior week. Three in 10 staffing companies (31%) reported gains in new assignments week-to-week, 10 points below the average of 41% per week so far this year.
The ASA Staffing Index four-week moving average decreased from the prior week to hold at a rounded value of 90, and temporary and contract staffing employment for the four weeks ending Oct. 13 was 10.8% lower than the same period in 2023.
“September’s highs paved the way for October’s lows in momentum, with fluctuations staying close to a baseline of 90. Despite some erosion in last month’s gains, the fact that staffing employment typically experiences an end-of-year boost suggests that the Index may not remain below 90 for long,” said Noah Yosif, chief economist at ASA.
This week will be used in the October monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics on Nov. 1.
The ASA Staffing Index is reported nine days after each workweek, making it a near real-time measure of staffing employment trends. ASA Staffing Starts are the number of temporary and contract employees placed in new assignments during the reporting week. ASA research shows that staffing employment has historically been a coincident economic indicator.
For more information, visit americanstaffing.net/index or follow ASA research on X.
###
About the American Staffing Association (ASA)
The American Staffing Association is the voice of the U.S. staffing, recruiting, and workforce solutions industry. ASA and its state affiliates advance the interests of the industry across all sectors through advocacy, research, education, and the promotion of high standards of legal, ethical, and professional practices. For more information about ASA, visit americanstaffing.net.
The post Staffing Index Back Down to 89 in October appeared first on American Staffing Association.