The NYT has a piece noting the surge in hiring in the temporary employment industry. The article notes that in the last two recessions a rise in temporary employment had preceded a rise in permanent employment. It is worth noting that in the past when job growth had resumed there had also been much lower levels of unemployment insurance (UI) claims. While the number of weekly UI claims has fallen sharply from its peaks earlier this year, it is still averaging close to 470,000 a week. In the past, UI claims had fallen below 400,000 a week before job growth resumed. By this measure, the economy likely has some way to go before it starts generating jobs.
--Dean Baker
