The Temp Staffing Index came in at 94 last week, a solid 5.6% above 2013 levels. When combined with yesterdays post on rail traffic, both measures indicate a continued improving economy. The YOY positive changes to the temp staffing index has strongly correlated to the improvement we have seen in NFP’s over the index’s history.
Note: Temp staffing does not mean “part time”. The normal progression is “temp to permanent” which is why when we see growth in the temp staffing index we can expect to see growth in NFP about 3-6 months down the road. Conversely when the temp index is in a downtrend, NFP can be expected to follow in a similar time frame