CycleWatch

Signals › Labor Market

TEMPHELPS · FRED

Temporary help services employment

Structurally the first category cut.

Latest reading

2,487

Thousands of Persons · observation 2026-09-01, published 2026-10-02

Last 24 observations.

Signal

−0.91

Inside the normal range. Not a strong reading either way.

Use
In model: block 2 score
Model input
100 × change in the logarithm, about the % change from the previous period
Direction
A falling value raises recession risk.

Where it fits

Labor Market: Detect the income-to-consumption feedback loop that turns a slowdown into a recession. The model averages the standardised signals in each block into a block score, then combines the twelve block scores in a probit. Today the 12-block model reads 1.6%.

Other signals in this block