ASA Staffing Index Reaches 28-Month High

From the American Staffing Association (ASA):

"During the week of Sept. 20–26, 2010, temporary and contract employment rose 1.36%, pushing the index up two points to a value of 100. The last time the weekly index hit 100 was during the week of May 12, 2008 (see chart above).  At a current index value of 100, U.S. staffing employment is 45% higher than the level reported for the first week of the current year and is 25% higher than the same weekly period in 2009."

According to the ASA:  "Staffing industry employment serves as a coincident economic indicator and a leading indicator of total U.S. nonfarm employment. The ASA Staffing Index bears watching as a near real-time measure of weekly trends in staffing industry employment and current economic conditions, as well as future overall employment trends."

MP: The ASA Staffing Index reached a 28-month high in Week 39 (September 20-24), and this marks the 23rd consecutive week with percentage gains in the ASA Staffing Index above 20% compared to the same week in 2009, and the 32nd straight week of double-digit percent increases vs. 2009.  As a leading indicator of U.S. nonfarm employment, the ongoing improvements in the ASA Staffing Index this year suggest that we can expect future increases in nonfarm employment, along with reductions in the U.S. jobless rate.