U.S. staffing companies employed an average of 2.2 million temporary and contract workers per week in the first quarter of 2024, according to data released today by the American Staffing Association—down by 186,000 from the fourth quarter of 2023.

On a quarter-to-quarter basis, staffing employment and sales typically decline in the first quarter, grow in subsequent quarters, and peak in the fourth quarter. Staffing employment, however, declined at the end of 2023 as the industry contended with tightening macroeconomic conditions that slowed staffing growth. Thus, while a quarter-to-quarter decline of 7.7% in staffing employment is on par with the average since 2008, on a year-to-year basis staffing employment fell 13.9%.

Temporary and contract staffing sales declined in a similar manner. Totaling $31.5 billion in the first quarter of 2024, staffing sales were down 8.4% from the fourth quarter of 2023 and down 15.9% from the first quarter of 2023. Looking ahead, private staffing companies are projecting their third quarter revenue to grow 1.6% year-to-year, and their full year 2024 sales to increase 0.7%, compared with 2023.

“The labor market remains healthy despite some erosion from tightening economic conditions. Growth is strong but concentrated within a handful of sectors, which raises the bar for staffing and recruiting companies when finding new opportunities to serve clients and talent,” said ASA chief executive officer Richard Wahlquist. “Staffing companies are often the first to face the costs of lower labor demand, and the first to benefit in the uptick that lies beyond the trough. With increasing odds of a soft landing, staffing and recruiting companies are cautiously optimistic about the second half of the year as economic conditions normalize.”

How can ASA best meet your needs? Provide invaluable feedback to the association by answering a few simple questions about your membership experience. Links to the association’s annual member satisfaction survey were emailed to staffing firm members last week. Your participation in this survey is critical in helping ASA learn what is important to you and how well the association is serving you.

The survey closes this Friday, June 28. If you have any questions or did not receive a survey link, contact Tim Hulley at 703-253-1154 or thulley@americanstaffing.net.

Staffing employment improved during the week of June 10–16, with the ASA Staffing Index increasing to a rounded value of 90 for the first time in nine weeks.

New starts saw an even greater improvement in the 24th week of the year, increasing by 10.0% from the prior week. However, just over a third of staffing companies (35%) reported gains in new assignments week to week—below the average of 43% per week so far this year.

The ASA Staffing Index four-week moving average increased from the prior week to hold at a rounded value of 89, and temporary and contract staffing employment for the four weeks ending June 16 was 10.3% lower than the same period in 2023.

“This week’s index revealed a measured improvement in staffing employment beyond just recovering from the Memorial Day dip. Stabilization remains the operative word for staffing employment in 2024, as June’s numbers provide the clearest indication of a bottom for the industry. These levels are likely to see further, incremental improvement depending on the pace of cooling and recovery within the labor market at large,” said Noah Yosif, chief economist at ASA.

This week will be used in the June monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics July 5.

Staffing World^® is where the staffing community comes together to make strategic connections, learn about new developments, and get solutions to win business and spur growth. This year’s ASA annual convention and expo takes place Oct. 22–24 at the Gaylord Opryland Resort and Convention Center in Nashville, TN—and ASA is giving you the opportunity to win a free registration package.

Record a 60-second video of yourself telling your Staffing World story—it could be the story of why you love Staffing World, why you want to go, or what your best Staffing World experience has been. Post the video on your LinkedIn profile, tag the American Staffing Association, and include the hashtag #StaffingWorldStory. (Check out the full rules and eligibility requirements at staffingworld.net.)

One winner will receive a free registration package, and everyone who posts a video will receive a discount code—just for participating. You must post your video by this Friday, June 28, for a chance to win.

Don’t miss Staffing World^® 2024 this fall—the ASA annual convention and expo takes place Oct. 22–24 at the Gaylord Opryland Resort and Convention Center in Nashville, TN. Learn all about the educational sessions happening at the industry’s largest and most powerful growth-focused learning and networking event, then register online by next Friday, June 28, for the lowest rate available.

Friday also is the deadline to share your Staffing World story for a chance to win a free registration package Get the details at staffingworld.net.

How can ASA best meet your needs? Provide invaluable feedback to the association by answering a few simple questions about your membership experience. The association’s annual member satisfaction survey is now open, and survey links were emailed to staffing firm members this morning.

Your participation in this survey is critical in helping ASA learn what is important to you and how well the association is serving you. The survey closes next Friday, June 28. If you have any questions or did not receive a survey link, contact Tim Hulley at 703-253-1154 or thulley@americanstaffing.net.

Staffing World^® is where the staffing community comes together to make strategic connections, learn about new developments, and get solutions to win business and spur growth. This year’s ASA annual convention and expo takes place Oct. 22–24 at the Gaylord Opryland Resort and Convention Center in Nashville, TN—and ASA is giving you the opportunity to win a free registration package.

Record a 60-second video of yourself telling your Staffing World story—it could be the story of why you love Staffing World, why you want to go, or what your best Staffing World experience has been. Post the video on your LinkedIn profile, tag the American Staffing Association, and include the hashtag #StaffingWorldStory. (Check out the full rules and eligibility requirements at staffingworld.net.)

One winner will receive a free registration package, and everyone who posts a video will receive a discount code just for participating. You must post your video by June 28 for a chance to win.

If you’ve been waiting for the right time to earn your Certified Staffing Professional^® credential from ASA, or to explore the new ASA Pro Stacks credentialing programs, the right time is right now. During the ASA certification sale, you’ll save 20% on ASA professional development products (excluding renewals).

Visit americanstaffing.net to learn why you should earn an ASA credential, then place your order in the ASA store before July 31. Discounted prices will be reflected in your cart—there’s no special code to use.

Right now is the perfect time to invest in yourself, your company, and your future success. During the ASA certification sale, you’ll save 20% on certification products (excluding renewals)—including the new ASA Pro Stacks credentialing programs. The sale ends July 31.

Find out why an ASA credential will help you stand out in your field, then place your order in in the ASA store—all discounted prices will be reflected in your cart. There’s no discount code needed.

Don’t miss Staffing World^® 2024 this fall—the ASA annual convention and expo is your opportunity to make strategic connections, learn about new developments, and get solutions to win business and spur growth.

This year’s event takes place Oct. 22–24 at the Gaylord Opryland Resort and Convention Center in Nashville, TN, and details about the more than 30 educational sessions scheduled are available online right now.

Register online by June 28 for the lowest rate available—or enter to win a free registration package by sharing your Staffing World story. And you’ll save even more when you bring your team—get the details and register today at staffingworld.net.