February 27, 2024

ASA Staffing Index: Staffing Employment Moderates in February

Staffing employment declined for the second week in a row during the week of Feb. 12–18, with the ASA Staffing Index decreasing by 1.0% to a rounded value of 90. Staffing companies mentioned no one primary factor that limited further growth. Staffing jobs were down 10.6% from the same period last year.

New starts in the seventh week of the year, however, increased by 9.9% from the prior week. Four in 10 staffing companies (40%) reported gains in new assignments week to week.

The ASA Staffing Index four-week moving average increased from the prior week to a rounded value of 90, and temporary and contract staffing employment for the four weeks ending Feb. 18 was 11.0% lower than the same period in 2023.

“While staffing employment often moderates in February, it is typically preceded by a robust recovery in staffing jobs following the holiday season. An anemic early-year surge in 2024 is indicative of tightening business conditions, which continue to challenge the industry and economy at large,” said Noah Yosif, chief economist at ASA.

This week will be used in the February monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics March 8.

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Upcoming Events

Free ASA Webinar Today—Understanding the M&A Market

Don’t miss the ASA webinar “Staffing Mergers and Acquisitions Market Update: 2023 Takeaways and 2024 Outlook.” It takes place today from 2 to 3 p.m. Eastern time. There were plenty of staffing industry mergers and acquisitions in 2023 despite broader challenges and volatility—what does the market look like for 2024? Jeremy Falendysz of UHY Corporate Finance and Paul Pincus of Ortoli Rosenstadt will analyze the data and share their insights into relevant trends for staffing company buyers and sellers.

All ASA webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.

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Take Advantage of a Health Care Compliance Program at the Staffing Law & Compliance Conference

Attendees of the upcoming ASA Staffing Law & Compliance Conference have the option of also registering for a special compliance preconference program called “Health Care Staffing: Legal and Legislative Updates,” which takes place Wednesday, May 15, 1–5 p.m. at the Westin Washington, DC, Downtown. The main conference begins at the same location the next morning and continues through May 17.

You do not have to be currently operating in the health care staffing sector to register for this newly announced program. Compliance preconference program attendees will hear important updates about legal and legislative proposals and policies that affect a major sector of the staffing industry—including federal and state efforts to regulate staffing agencies with health care lines of business, top current and forthcoming legal issues in health care staffing, and current best practices for compliance and growth. The preconference registration rate is $200. If you have not yet registered for this year’s Staffing Law & Compliance Conference, register today and add on the preconference option.

Learn more at staffinglawconference.net. Questions? Email Katie McGilvery or call 703-253-2020.

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Staffing Today is published by the American Staffing Association, with news abstracts copyrighted in 2024 by SmithBucklin of Chicago, IL, and all other content copyrighted in 2024 by ASA. No part of this publication may be reproduced without permission.

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The American Staffing Association is the voice of the U.S. staffing, recruiting, and workforce solutions industry. Learn more at americanstaffing.net.

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