How is the job market?
How is the economy?
Today’s chart helps answer those questions by illustrating U.S. temporary help services (temp jobs) since 1990.
Notice how temp jobs peaked in July — early signs of a softening job market.
Also, notice how temp jobs have tended to decline prior to the beginning of recession.
A leading indicator of sorts.
It is worth noting that the current temp job decline is greater than what occurred immediately following previous pre-recession temp job peaks.
Something to watch going forward.