Fed Sees Soft Landing as Silver Lining of Temp Jobs Decline

The recent decline in temporary jobs often a harbinger of recession is actually raising hopes among Federal Reserve policymakers that their bid for a soft landing is working.

The number of US temp workers fell for the fifth straight month in December from a record high in July. The drop is being viewed as an indication that the Fed is making progress in its bid to ease a taut jobs market just enough to head off inflationary wage increases without triggering widespread layoffs.