“Temporary help — a harbinger of permanent hiring – rebounded modestly after declining for three straight months.”
That’s a silver lining that makes me think this slight uptick may be real. Trend-wise private sector has been fairly strong all year, it’s just cutbacks in government employment (which was bloated as part of stimulus spending) that is dragging it down. The uptick in hourly earnings is a positive sign too.
It’s far from all clear skies and roses, but I was personally expecting much worse numbers given market uncertainty. The big lingering question is if government cutbacks will come too quickly and stall the recovery.
