ASA Staffing Index Hits 100 for First Time in More Than Two Years
Milestone Equates Staffing Employment to Index Launch in June 2006
During the week of Sept. 20-26, 2010, temporary and contract employment rose 1.36%, pushing the ASA Staffing Index up to 100. The last time the weekly index hit 100 was during the week of May 12, 2008, meaning current employment in the staffing industry has returned to a level comparable to that of approximately 29 months ago-just before employment in the staffing industry contracted in response to the recession, which the National Bureau of Economic Research said began in December 2007: http://www.nber.org/cycles/dec2008.html.
With the index now at 100, U.S. staffing employment is approximately 25% higher than in the same weekly period last year.
The ASA Staffing Index at 100 serves as a milestone in observing staffing employment trends, much like 10,000 points in the Dow Jones Industrial Average stock index. The ASA Staffing Index was launched at 100 in June 2006. It grew beyond 100 most of the rest of that year and continued to grow in 2007, peaking at 110 several weeks in the fourth quarter of 2007, when the economy peaked, according NBER. With the economy in recession, the ASA Staffing Index hovered around 100 in the first few months of 2008, then began slipping moderately until September when it plunged sharply to 69 at the end of the year. Now having returned to the milestone of 100, the index indicates that staffing employment has returned to levels comparable to the early part of 2008-and reminiscent of the summer of 2006 when the staffing industry was growing
The ASA Staffing Index (http://www.americanstaffing.net/statistics/staffing_index.cfm) is reported nine days after the end of each workweek, making it a virtual real-time measure of staffing employment trends. To view weekly index data, visit http://www.americanstaffing.net/statistics/historical_data.cfm. ASA research (http://www.americanstaffing.net/statistics/pdf/Staffing_Jobs_as_Indicators.pdf) shows that staffing employment is a coincident economic indicator and leading employment indicator, especially when the economy is emerging from a recession. Data for the index are gathered by ASA research partner Inavero, a market research firm based in Portland, OR: http://inavero.com.
For more information, visit http://www.americanstaffing.net/newsroom/index.cfm. You can also follow ASA on Twitter at twitter.com/staffingtweets.
Interviews with ASA executives are available.
The American Staffing Association promotes legal, ethical, and professional practices for the $61 billion U.S. staffing industry. ASA members account for 85% of U.S. staffing industry sales and operate some 14,000 offices throughout the nation. Two million Americans go to work for U.S. staffing companies every business day.
Founded to promote flexible employment opportunities and ensure the quality of staffing services, ASA has been the voice of the U.S. staffing industry since 1966. Members provide a wide range of employment services and solutions, including temporary and contract staffing, recruiting and permanent placement, outplacement and outsourcing, training, and human resource consulting. ASA and its affiliated chapters promote the interests of the industry through legal and legislative advocacy, public relations, education, and the establishment of high standards of ethical conduct.
Public Relations Coordinator
relkhatib @ americanstaffing.net
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