Here’s what you need to know about the latest ASA report

The American Staffing Association released its Staffing Index Monthly Report for July 2023. Here’s what you need to know:

  1. Staffing employment experienced a significant increase in the week of July 10-16, rebounding by 7.6% after a previous decline due to the Fourth of July holiday. The ASA Staffing Index reached a rounded value of 101.
  2. Some staffing companies attributed the growth barrier to the holiday period, hindering further expansion.
  3. Staffing jobs for the mentioned week were 5.4% lower compared to the same week in the previous year.
  4. New starts (new assignments) in the 28th week of the year saw a notable increase of 26.1% from the previous week. About 63% of staffing companies reported gains in new assignments during this period.
  5. The four-week moving average of the ASA Staffing Index remained steady at a rounded value of 98.
  6. Temporary and contract staffing employment for the four-week period ending July 16 was 6.4% lower than the same period in 2022, reflecting a decline in comparison to the previous year.
  7. Tim Hulley, the ASA assistant director of research, highlighted that while temporary and contract hiring has decreased since the previous year, it remains above levels observed before the pandemic.
  8. The article also mentions that the current week, which includes the 12th day of the month, will be included in the July monthly employment situation report issued by the U.S. Bureau of Labor Statistics on August 4th.
  9. The ASA Staffing Index is noted to be reported approximately nine days after each workweek, providing a nearly real-time measure of staffing employment trends.
  10. The article concludes by mentioning that historical ASA research has shown that staffing employment tends to act as a coincident economic indicator.

Read the full article here: Staffing Employment Rebounds After Holiday

Credit: American Staffing Association, 2023.

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