ASA Staffing Index Monthly Report, November 2024
Year-to-Year Gap Widens, New Starts Down
Staffing employment inched down during the week of Nov. 11-17, with the ASA Staffing Index decreasing by 0.2% to a rounded value of 89. Staffing jobs were down 11.4% compared with the same week last year, widening the gap by nearly a percentage point from 10.5% the previous week. Staffing companies listed no one primary factor that prevented further growth.
New starts fell in the 46th week of the year, decreasing 11.6% from the prior week. Close to half of all staffing companies (45%) reported gains in new assignments week-to-week, equal to this year’s per-week average.
The ASA Staffing Index four-week moving average decreased from the prior week but held at a rounded value of 90, and temporary and contract staffing employment for the four weeks ending Nov. 17 was 10.2% lower than the same period in 2023.
“A meager dip below baseline levels suggests more sideways momentum in staffing employment. The lack of growth or further erosion in staffing employment for much of 2024 affirms that employers recognize the unique value provided by temporary workers and the staffing industry but must wait to take advantage of it due to increased economic turbulence. With the holiday season fast approaching and the seasonal fluctuations that accompany it, the ASA Staffing Index may not rebound back to baseline until next year,” said Noah Yosif, chief economist at ASA.
This week will be used in the November monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics on Dec. 6.
The ASA Staffing Index is reported nine days after each workweek, making it a near real-time measure of staffing employment trends. ASA Staffing Starts are the number of temporary and contract employees placed in new assignments during the reporting week. ASA research shows that staffing employment has historically been a coincident economic indicator.
For more information, visit americanstaffing.net/index. Or follow ASA research on Twitter.
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About the American Staffing Association (ASA)
The American Staffing Association is the voice of the U.S. staffing, recruiting, and workforce solutions industry. ASA and its state affiliates advance the interests of the industry across all sectors through advocacy, research, education, and the promotion of high standards of legal, ethical, and professional practices. For more information about ASA, visit americanstaffing.net.
