More on Temp Help vs NFP

Invictus observes:

Regarding temporary help as a leading indicator, try putting the two payroll series (TEMP and PAYEMS) on separate axes; its much more informative and dramatic!

As you wish:

Source: FRED


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  1. norkot2003 commented on Feb 7

    ….. a question from out here on the “bakken”……….if for the last 3 years an oil rig worker has been putting in 80 hour work weeks but now only puts in 40 hour work weeks does that mean the employment rate went up, down or make no difference at all ? all the large oil operators, Hess, Statoil, Continental, Whiting, Marathon, claim to have made no layoffs yet it seems to me “layoffs” have doubled…..I guess what I’m asking is how the “dis” employed number would be calculated….is it by the number of “40 hour equivalents” …………..just askin’

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