Jim Fickett of ClearOnMoney sends us these two charts in response to all the recent chatter that the hiring cycle has changed and NFP no longer follows Temp help hiring.
“There has been considerable talk lately that this time is different, but there is no evidence in the recent data to suggest that the correlation is breaking down.”
Temporary Hiring has led NFP hiring this cycle:
Temp Hiring Leads NFP
Temp Help Is Highly Correlated with NFP
charts courtesy of ClearOnMoney.com