Wyatt Matas & Associates Announces New Economic Indicator for the State of Florida

The Florida Staffing Index is the first of its kind in the country that is dedicated to predicting the potential economic growth of an individual state.

(PRWEB) December 5, 2003 --The Florida Staffing Index (FSI) FSI will be a pre-indicator of the direction of the economy. The index provides business leaders throughout the state of Florida an economic barometer to use in making strategic decisions. The FSI will be released to the public by Wyatt Matas & Associates on the first Monday following the end of each quarter.

A recent publication the American Staffing Association stated that the staffing industry may be a leading economic indicator, meaning that it is perhaps predictive of where the economy is heading. The unemployment rate, on the other hand, is a lagging economic indicator; it tells where the economy has been. When the staffing industry grows, the economy grows 2 to 3 months later."

We have seen the growth and retraction of the staffing industry coincide with the growth and retraction of the economy as a whole. The FSI is the only economic indicator compiled that is specific for the state of Florida. We believe our clients as well as all business leaders in Florida will be well-equipped to plan for the future with the information this index will provide," says Wyatt Matas & Associates Chief Economist, Chip Measells.

The index will be based on a 100 point scale with 50 being the swing point; a reading above 50 means expansion of the sector and below 50 means a decrease of activity in the sector. Wyatt Matas & Associates will survey between 50 and 100 managers of Florida staffing agencies and ask the respondents to characterize the activity of new orders, placement, employment advertising, backlog of orders and business outlook as up, down or unchanged.

CONTACT INFORMATION:
Chip Measells, Partner, Chief Economist
Wyatt Matas & Associates
505 South Tampania Avenue, Suite 1
Tampa, Florida 33609
Telephone: 813-877-5885
Facsimile: 813-350-9982
Email: chipm@wyattmatas.com
Website: www.wyattmatas.com