News Release
June 22, 2009
When Will the Recession End? Watch Staffing
When Will Overall Job Growth Begin? Watch Staffing
New ASA Research Adds Important Nuance to Conventional Wisdom of Staffing Jobs as Economic and Employment Indicators
A sustained upturn in staffing industry employment would signal the end of the current recession and suggest that overall nonfarm employment would begin to grow about three months later, according to new research released today by the American Staffing Association.
Staffing industry employment has long been considered a popular indicator of current economic conditions and a precursor of overall employment trends. Recent ASA research confirmed this conventional wisdom, but added important nuance.
Key Findings
- Staffing industry employment is a strong coincident economic indicator when the economy is emerging from a recession.
- Staffing industry employment is a leading indicator for nonfarm employment—by about three months when the economy is emerging from a recession.
"This is the first time that an upswing in staffing jobs has been so closely linked with economic recovery," says ASA vice president Steve Berchem, CSP, who directed the research project.
These conclusions were drawn from statistical analyses of 36 years of government data conducted by ASA and its corporate partner, the Inavero Institute for Service Research. A white paper describing the research is available on the ASA Web site, americanstaffing.net.
The ASA Staffing Index provides the only near-real time measure of weekly changes in staffing jobs. The index has been improved so that beginning June 23 there will be only a nine-day lag between the close of a payroll week and the reporting of the index results. See americanstaffing.net for details.
Interviews with ASA executives are available.
The American Staffing Association promotes legal, ethical, and professional practices for the $86 billion U.S. staffing industry. ASA members account for 85% of U.S. staffing industry sales and operate more than 15,000 offices throughout the nation. Some 2.7 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.
Contact
Reem El-Khatib
Public Relations Coordinator
703-253-2047
relkhatib@americanstaffing.net
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