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Chart Of The Day

WAS THAT OUR GREAT JOB RECOVERY?

Is that all we had in us for this cycle?  Is there any chance the period of job expansion is over before it even began?  That might be the takeaway from a seriously disheartening piece of data from this month’s employment report.

Barry Ritholtz has long pointed to temporary help services as a good leading indicator of the employment cycle.  In a recent post he showed the recent developments.  This is now the third straight month of declines in temporary help services.

For now, this looks like a mere blip on the radar, but if government austerity gains momentum in the coming quarters we should also expect the number of unemployed to pick-up momentum as the balance sheet recession has rendered the private sector far too weak to pick-up the slack.

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