After a notable drop in the previous week because of the Fourth of July celebrations, July 10-16 witnessed a significant rebound in staffing employment. The ASA Staffing Index rose by 7.6%, settling at approximately 101. Some staffing firms cited the holiday as a limiting factor to achieving even more growth. Compared to the same week the previous year, staffing roles were down by 5.4%.
During the year’s 28th week, new job starts experienced a boost of 26.1% compared to the week before. In this context, 63% of staffing firms noted an uptick in new weekly assignments.
For the four weeks culminating on July 16, the ASA Staffing Index’s moving average remained consistent, rounding off at 98. Over these four weeks, there was a 6.4% decrease in temporary and contract staffing roles compared to 2022’s corresponding period.
Tim Hulley, the ASA’s Deputy Director of Research, commented, “Even though there’s been a decline in temporary and contract recruitments compared to last year, the numbers remain higher than what we saw before the pandemic.”
The week, which includes the month’s 12th day, will be integral to the July employment report. This report is set for release by the U.S. Bureau of Labor Statistics on August 4.
Released just nine days post the conclusion of every workweek, the ASA Staffing Index offers an almost instantaneous view of staffing employment patterns. The ASA Staffing Starts represent the count of temporary and contract workers who commence new roles within the recorded week. Historical data from ASA suggests that staffing employment is a reliable economic barometer.