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The week of December 11, 2024

Weekly Economic & Business Outlook

Latest Economic Outlook
  • Labor market activity remains at healthy levels.
  • In the long term, however, it is trending toward unhealthy levels.
  • A soft landing will only be achieved once the labor market is trending in a healthy direction.
Latest Staffing Research
  • Pay is the top factor in accepting a temporary job and major driver when workers choose one assignment over another.
  • The possibility of a permanent role is a motivator for more than a third of workers surveyed.
  • Commute is an important consideration as most temporary associates work fully in-person.

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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