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The week of December 17, 2024

Weekly Economic & Business Outlook

Latest Economic Outlook
  • Volatile labor market conditions weighed down on staffing employment in 2024.
  • The industry adapted by focusing on new business segments and productivity enhancements.
  • Easing headwinds in 2025 will allow the industry to see further stabilization and growth.
Latest Staffing Research
  • Two thirds of adults surveyed said they are drawn to consider temporary work this holiday season.
  • Financial concerns motivate most, including instant-pay models that are attractive to many workers.
  • Workers picking up end-of-year shifts will help bolster an industry that has seen year-to-year declines in sales and employment.

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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