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.
