Nov 12, 2009 -- Temp agencies showing more staffing activity
The latest headline unemployment number has now topped 10 percent. It's entirely possible that it may rise to 11 percent still. Another indicator Clark looks at is U6, which is a more realistic measurement of unemployment, and that has topped 17 percent.
U6 takes into account those who are involuntarily working part-time because they can't find full-time work and those who have given up looking for work out of sheer frustration.
Sounds gloomy, right? Well, Clark is here to share a ray of hope that he sees on the horizon.
Another indicator that economists look at involves temporary help firms. All through this recession, temp agencies have been reporting fewer and fewer jobs. But that's actually turned and they're now reporting more temporary staffing activity.
If you look at prior recessions and job downturns, the first hiring that companies do when they come out the hole involves temporary employees. So this stat about temp work bodes well in Clark's eyes.
In big companies when a job is posted, most of the hiring decisions come from internal candidates. You want to get in a position where you are an internal candidate and temp work is one way to do that.