According to @KobeissiLetter, US small companies posted -5,907 net job losses in October, the second negative monthly reading this year and the fourth consecutive monthly decline in net hiring, highlighting a clear deterioration in small-business labor momentum, source: @KobeissiLetter. Administrative and Support Services led losses at -4,480, followed by Professional, Scientific, and Technical Services at -4,330, and Retail Trade at -4,050, source: @KobeissiLetter. The update contrasts sharply with a 12-month average of +39,300 net hires per month and +170,000 in 2021, and the author characterizes the pace of reductions as concerning, source: @KobeissiLetter.