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The week of November 19, 2024

Weekly Economic & Business Outlook

Latest Economic Outlook
  • Productivity growth is accelerating, reversing a longstanding trend of slower growth.
  • Currently, higher productivity decreases the relative importance of labor to businesses.
  • Staffing firms should look to moderate productivity gains as an indicator of improving leverage for the industry.
Latest Staffing Research
  • CEO confidence surged in November.
  • Business leaders will look to the Trump administration to prioritize the economy.
  • Several studies have found improving sentiment among consumers about their employment prospects.

The ASA Weekly Economic Business Outlook is for members of the American Staffing Association.

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Here’s an abridged preview of our latest insights on the current state of the staffing industry and the economy at large. It’s the most powerful and targeted data and analysis tool available to staffing professionals—released exclusively to ASA members on Mondays, each and every week!

 

This Week’s Economic Outlook
  • Average hourly earnings have struggled to keep pace with inflation.
  • Compensation will continue to outpace inflation given declining inflation, moderating labor market dynamics, and lower interest rates.
  • Staffing firms can keep offers competitive by accounting for inflation dynamics.
This Week’s Staffing Research
  • Elevated inflation and interest rates have increased compensation demands by workers.
  • A recent ASA Workforce Monitor® found many U.S. workers are still concerned about their finances.
  • Pessimism among workers regarding their finances has reduced labor churn.

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ASA’s exclusive survey data on sales, employment, and industry trends gives members a true competitive edge and helps them to maximize revenue and income. ASA puts a wealth of other valuable research and data at your fingertips, too, including government data and the weekly ASA Staffing Index.

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