Economics Update

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Temp hiring surges

It looks like temporary hiring is very strong, up 19.6% year over year, which, in addition to contributing to my finding employment, should be a leading indicator for direct employment, though private "permanent" employment is still down 0.7% YoY, which runs counter to earlier data. (see chart pr0n)

We are also seeing falling rates of credit card delinquencies, which are down to an 8 year low, which could be seen as either a glass half full, that people are getting a handle on their finances, or glass half empty, with people continuing to deleverage, and flying into the "paradox of thrift."

Finally, in an update from yesterday, when I discussed office vacancies, today, we see that vacancy rates in shopping centers increased in the 2^nd quarter.