After the expect dip for the 4th of July holiday, the Temporary Staffing Index rebound over 4% to hit the highest level in 2011 the the highest since the 2010 Christmas Holiday hiring season (always VERY strong for temp help).
This shows continued demand for labor and is good for continued economic expansion. Here is the chart:
To see how this data series lead non-farm payrolls (NFP) look at the following chart from the St. Louis Fed:
You’ll notice the lead the temp help index has over total NFP. It tends to be 3-4 months. Note: The data in the chart is through 6/1, the temp staffing now sits at 88 which means the brief seasonal turn down at the end of the chart has been broken to higher levels which will be reflected in the next release.