American Staffing Association (ASA) has announced that during the October that staffing employment is up 4.9% compared to the same month last year, according to the ASA Staffing Index. The index value for the month of October is 100, indicating that staffing employment has remained relatively flat (up 0.3%) over the last 30 days. Typically, staffing employment peaks between mid-November and mid-December each year, after which it dramatically declines for several weeks before turning upward in mid-January. According to the index, since the beginning of 2013, temporary and contract employment has grown 15.1%.
All U.S. staffing firms are invited to participate in the ASA Staffing Index survey. There are no fees for participation, and the survey takes only a couple of minutes each week to complete. Participants receive three emails per week: an invitation sent Thursday night to complete the survey by Monday evening, a Monday morning reminder, and a report on the weekly results (usually sent Tuesday morning).
- The baseline value for the ASA Staffing Index was set at 100 in June 2006.
- Results are reported typically nine days after the close of the work week.
- The methodology mirrors that of the quarterly ASA Staffing Employment and Sales Survey, based on a model developed by Standard and Poor’s DRI/McGraw Hill in 1992.
- Data for the index are gathered by ASA research partner Inavero, a market research firm based in Portland, OR. Data are obtained through a secure Web-based questionnaire accessed via a customized invitation email sent to participants.
- Participants receive a weekly email report on the survey results, which includes performance based on company size in four annual sales categories: less than $7.5 million, $7.5–$25 million, $25–$100 million, and more than $100 million.
The ASA Staffing Index as an Indicator
Many experts agree—and ASA research confirms—that staffing industry employment serves as a coincident economic indicator and a leading indicator of total U.S. non-farm 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 of future overall employment trends.
ASA Staffing Index Monthly Report
ASA releases a monthly report on the index that offers a preview of the non-seasonally adjusted temporary help employment numbers reported by the U.S. Bureau of Labor Statistics in its monthly employment situation report (generally issued the first Friday of the month). The ASA Staffing Index monthly report, released more than a week before the BLS employment situation report, compares weeks containing the 12th of each month, making it comparable to the reference period used by BLS.
Source: American Staffing Association October 29, 2013