Staffing Index Rises To Year’s Highest Level

For the week of 6/26, the Temp Staffing Index reached 88, the highest level since the 2010 Holiday hiring season. Below is both a 5 year and 2 year chart:

If we watch NFP, we’ve seen a similar, sluggishly upward movement in the numbers as we have seen in Temp employment this year. The current “pause” in NFP matches the Feb/April flatline we saw in Temp employment (remember there is a 3-4 month lag). Since Mid April, the index has crept forward by 3.4% vs the zero growth in the earlier period. That should equate to NFP growth in the July-Sept period much better that what we have seen recently.