- by New Deal democratIn the conclusion of my latest Weekly Indicators post, I wrote that, except for temporary staffing, I didn’t see any signs of weakness spreading out beyond manufacturing and import/export. Manufacturing, as measured by industrial production, has been in a shallow recession all year. By contrast, the consumer - 70% of the economy - continues to do ok, boosted by lower interest rates for mortgages and somnolent gas prices. Since there isn’t any other economic news today, let’s take a look at that one yellow flag - temporary hiring. As I’ve pointed out each month for the past few months, each monthly jobs report this year has started out with a nice, positive number for temporary jobs. But then, with one exception, the number gets revised downward, sometimes
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- by New Deal democrat
In the conclusion of my latest Weekly Indicators post, I wrote that, except for temporary staffing, I didn’t see any signs of weakness spreading out beyond manufacturing and import/export. Manufacturing, as measured by industrial production, has been in a shallow recession all year. By contrast, the consumer - 70% of the economy - continues to do ok, boosted by lower interest rates for mortgages and somnolent gas prices.
