ASA Staffing Index Continues to Improve; Temp Hiring is A Leading Indicator of Future Job Growth
"Staffing employment in April is 19% higher than in the same month last year, according to the ASA Staffing Index released today. The index for April is 86, up from 83 for March, suggesting that staffing employment has increased almost 4% over the past month. With the exception of the payroll period that included the Easter holiday, staffing employment has shown steady growth over the past 10 weeks."
MP: The chart above is based on the ASA's weekly staffing index, which reached an 18-week high during the week of April 12, and has increased by 19.4% over the last year. This most recent weekly gain marks the ninth week in-a-row of double digit increases from the same week in the previous year.
Temporary help employment tracked by ASA is considered to be an accurate leading indicator of employment trends. According to the ASA, temporary job increases typically lead gains in broader employment growth by three months when the economy is emerging from a recession, and the continuing strength in temporary hiring signals future employment growth for the U.S. economy.