Temp Employment Take Holiday Dip…..Sort Of…

The Temp Staffing index finally fell last week, 4 weeks after it historically has. The index, however only fell to 86 from the pre Thanksgiving 92. This 6% fall is half the 12% average fall of the previous two years (I omitted the collapse on ’08 as it would skew the average). When we see this and see ADP numbers like we saw today of +325K (I think that is a bit to the high side given ADP admits error of +/- 100k) is should not come as a surprise.

Temp employment is telling us that employment will continue to improve as we go into 2012.

Here is the ADP/NFP relationship for those interested:

Exclusive: York Capital to wind down European funds, spin out Asian funds

Jeffrey Aronson Crossroads CapitalYork Capital Management has decided to focus on longer-duration assets like private equity, private debt and collateralized loan obligations. The firm also plans to wind down its European hedge funds and spin out its Asian fund. Q3 2020 hedge fund letters, conferences and more York announces structural and operational changes York Chairman and CEO Jamie Read More


Here is the temp staffing chart:

Previous articleAnalysts’ Picks No Better Than Throwing Darts
Next articleDid the Internet get it wrong in Iowa?[INFOGRAPH]
Todd Sullivan is a Massachusetts-based value investor and a General Partner in Rand Strategic Partners. He looks for investments he believes are selling for a discount to their intrinsic value given their current situation and future prospects. He holds them until that value is realized or the fundamentals change in a way that no longer support his thesis. His blog features his various ideas and commentary and he updates readers on their progress in a timely fashion. His commentary has been seen in the online versions of the Wall St. Journal, New York Times, CNN Money, Business Week, Crain’s NY, Kiplingers and other publications. He has also appeared on Fox Business News & Fox News and is a RealMoney.com contributor. His commentary on Starbucks during 2008 was recently quoted by its Founder Howard Schultz in his recent book “Onward”. In 2011 he was asked to present an investment idea at Bill Ackman’s “Harbor Investment Conference”.