According to @KobeissiLetter, US temporary help services jobs fell by 9,800 in August to 2.5 million, the lowest level since September 2020 (source: @KobeissiLetter). According to @KobeissiLetter, excluding the 2020 pandemic, this is the lowest level in 13 years (source: @KobeissiLetter). According to @KobeissiLetter, on a year-over-year basis, temporary help services jobs recorded their 33rd consecutive monthly decline (source: @KobeissiLetter). According to @KobeissiLetter, since the March 2022 peak, the sector has lost 677,000 jobs, down 21.3%, exceeding the 20% drop seen in the 2001 recession (source: @KobeissiLetter). According to @KobeissiLetter, employment trends continue to deteriorate, signaling a weakening US labor market (source: @KobeissiLetter).

According to The Kobeissi Letter, the number of Americans working multiple jobs increased by 76,000 in March, reaching a record 8.94 million. This figure now surpasses the 2019 high by over 500,000 people, representing 5.5% of employment, the highest since 2009. This trend may influence cryptocurrency markets as individuals seek alternative income sources, potentially impacting Bitcoin and other digital asset investments.

According to The Kobeissi Letter, Elon Musk has stated that federal employees who fail to return to the office will be placed on administrative leave starting this week. This decision could potentially impact market sentiment as it may influence employment trends and productivity rates, affecting related sectors.