According to The Kobeissi Letter, US private payrolls fell by an average of 13,500 per week over the four weeks ending November 8, worsening from a 2,500 decline per week in the prior period (source: The Kobeissi Letter, Nov 25, 2025). According to The Kobeissi Letter, this deterioration signals a weak labor market and supports the view that the Federal Reserve must continue cutting interest rates, a key macro input for near-term trading decisions (source: The Kobeissi Letter, Nov 25, 2025).

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).