According to @KobeissiLetter, mentions of job cuts and economic slowdown on US earnings calls fell to 59 in October 2025, the lowest since February 2022 (source: The Kobeissi Letter on X, Nov 8, 2025). The post adds that September recorded 137 such mentions, the fewest for any September since 2021 (source: The Kobeissi Letter on X, Nov 8, 2025). Since April, references to negative macro headwinds have declined 90 percent (source: The Kobeissi Letter on X, Nov 8, 2025). For context, the 2022 peak was about 1,500 mentions, roughly 24 times current levels (source: The Kobeissi Letter on X, Nov 8, 2025). The author highlights that this improvement in corporate commentary stands in sharp contrast to the recent slowdown in job-market hiring (source: The Kobeissi Letter on X, Nov 8, 2025). For trading, this decline in negative macro mentions can be used as a macro sentiment input when sizing beta exposure across equities and crypto, including BTC and ETH, while monitoring remaining earnings calls for confirmation of the trend (source: The Kobeissi Letter on X, Nov 8, 2025).