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What Does the Demand for Temporary Help Suggest About a Recession?

Before corporations shed permanent employees, they first shed temporary workers. Look what's happening three ways.
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Temporary Help data from the BLS, chart by Mish

Temporary Help data from the BLS, chart by Mish

Demand for temporary help is rolling over on a seasonally-adjusted basis as it did in four prior recessions. That's as far back as this data series goes.

Temporary Help Change From Year Ago Thousands of Persons 

Temporary Help Change From Year Ago Thousands of Persons 2022-12

Temporary Help Percent Change From Year Ago 

Temporary Help Percent Change From Year Ago 2022-12

On an unadjusted basis demand for temporary help is down from a year ago. 

There was no lead time warning for the recession that started in August of 1990 but there was lead time for the 2001 and 2008 recessions. 

Given a slew of other recessionary data, don't expect any lead time now.

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This post originated at MishTalk.Com.

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