Another sign of a weakening labor market:
US temporary help services jobs fell -9,800 in August, to 2.5 million, the lowest since September 2020.
Excluding the 2020 pandemic, this is the lowest level in 13 years.
On a YoY basis, temporary help services jobs just posted their 33rd consecutive monthly decline.
Since the March 2022 peak, temporary help services jobs have dropped by -677,000, or -21.3%, one of the largest drawdowns in history.
This even exceeds the 2001 recession decline of -20%.
Employment trends continue to deteriorate.

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Institutions are the driving force behind this market cycle.
The four major cryptocurrencies—BTC, ETH, SOL, and BNB—have all hit new highs, but only BTC and BNB have continued to rise by over 40% since breaking through their all-time highs. SOL achieved a breakthrough earlier this year thanks to Trump's coin issuance, while ETH experienced a revaluation mid-year driven by DAT buying, though neither has yet reached a new high.
The Federal Reserve cut interest rates last night. How far can this institutional-led market trend continue?
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The Binance Coin (BNB) has finally broken the $1,000 barrier, hitting the four-digit mark for the first time in history.
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This past Wednesday, the crypto community was shaken again when New Gold Protocol (NGP) – a DeFi protocol on BNB Chain – was exploited in a smart contract vulnerability, causing the liquidation of its native Token to be...