Staffing Industry Shed 44,000 Jobs
Quarter-to-Quarter, a 2% Decline
ALEXANDRIA, Va., Sept. 30,
2024 /PRNewswire/ -- U.S. staffing companies employed
an average of almost 2.2 million temporary and contract workers per
week in the second quarter of 2024, according to data released
today by the American Staffing
Association—down 44,000 jobs from the first quarter of 2024.
Staffing employment continued to be affected by ongoing caution
by clients on adding headcount given current macroeconomic
conditions, as staffing employment in the second quarter contracted
by 2% from the first quarter and 11.6% on a year-to-year basis.
Staffing sales reached a total of $31.0
billion in the second quarter of 2024, marking a 1.6%
decline from the first quarter and a 13.8% decline from the
previous year. As seen in 2023, this contraction bucks the seasonal
trend of consistent sequential growth within the staffing industry
from the second to fourth quarters of the year.
Private staffing companies remain cautious about the future,
expecting their fourth quarter revenue to be essentially flat (a
median -0.4%) year-to-year, and their full year 2024 sales to be
down a median 3.2% compared with 2023.
"The cooling of labor markets continued to affect staffing
employment and sales in the second quarter," says Richard Wahlquist, ASA chief executive officer.
"There is reason for optimism over the next year, as lowering
interest rates will give businesses the capacity to step up
spending on capital expenditures as well as on their expenditures
for permanent and flexible talent to increase hiring in the coming
months."
To learn more about the quarterly ASA Staffing Employment and
Sales Survey, visit americanstaffing.net/quarterly-survey or
follow ASA research on X.
About the American Staffing
Association
The American Staffing Association
is the voice of the U.S. staffing, recruiting, and workforce
solutions industry. ASA and its state affiliates advance the
interests of the industry across all sectors through advocacy,
research, education, and the promotion of high standards of legal,
ethical, and professional practices. For more information about
ASA, visit americanstaffing.net.
Contact:
Megan Sweeney
msweeney@americanstaffing.net
202-747-4450
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SOURCE American Staffing
Association