ASA Staffing Index Growth Accelerates

"The ASA Staffing Index estimates weekly changes in the number of people employed in temporary and contract work. ASA developed the index to provide a current measure of staffing industry employment trends."

The most recent ASA Staffing Index for the week of May 17 reached 90, the highest level since October 2008. So far this year, the index of temporary help hiring has only declined in one week, and has stayed the same or improved in all other weeks. Compared to the same week last year, the Staffing Index has improved 25% in the most recent week, which provides more evidence of ongoing increases in temporary and contract work.

In previous economic slowdowns, the temporary employment sector is among the first to recover, and signals future broad-based employment improvements throughout the economy in all sectors. The acceleration of growth in the ASA Staffing Index should be a leading indicator of an ongoing sustained, V-shaped economic recovery through the rest of the year.

Market News and Data brought to you by Benzinga APIs