ASA Staffing Index Reaches 100-Week High
The American Staffing Association (ASA) Staffing Index for temporary and contract employment activity reached a 100-week high of 97 for the week of August 23-29, the highest index level since a reading of 97 in the week of September 29, 2008 (see chart above, data here). Compared to the same week last year, the ASA Staffing Index has improved 28% for Week 35. This marks the 19th week in a row with percentage gains in the staffing index above 20% compared to the same week in 2009 and the 28th straight week of double-digit percent increases vs. 2009. At a current index value of 97, U.S. staffing employment is 41% higher than the level reported for the first week of 2010.The ongoing improvements in the ASA Staffing Index in every single week this year compared to the same week in 2009, along with today's announcement of a 100-week high in temporary employment suggest that the labor market continues to recover from the recession. In the past, increased demand for temporary and contract employment has been a leading economic indicator of future broader-based gains in full-time employment, and we can therefore expect continued improvements in private-sector employment in the coming months.