Staffing employment edged down during the week of May 13–19, with the ASA Staffing Index declining by just 0.3% to hold at a rounded value of 89. Staffing jobs were down 10.9% compared with the same week last year, with no one factor cited to have hindered further growth.
Despite a contraction in staffing employment, new starts in the 20th week of the year increased by 6.1% from the prior week, and almost half of staffing companies (48%) reported gains in new assignments week to week—above the average of 44% per week so far this year.
The ASA Staffing Index four-week moving average inched down from the prior week to hold at a rounded value of 89, and temporary and contract staffing employment for the four weeks ending May 19 was 10.4% lower than the same period in 2023.
“A sustained pattern of negligible fluctuation in the Staffing Index suggests that the industry has settled into a steady rhythm of growth, unlikely to see substantial disruption without a material change in external macroeconomic conditions. This makes a case for optimism about the future of staffing employment once interest rates are reduced, business conditions improve, and the labor market sees greater churn,” said Noah Yosif, chief economist at ASA.
This week will be used in the May monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics June 7.
