🔶 Labor Market Update: Permanent Job Losses on the Rise 🔶
Recent data shows concerning trends in the U.S. job market:
🔶 Permanent Job Losses: Increased by 153,000 in October, reaching 1.84 million – the highest level since November 2021 📉
🔶 Long-Term Trend: Over the past two years, permanent job losses have grown by 665,000 📊
🔶 Involuntary Terminations: The number of people terminated involuntarily and actively seeking work has risen for 16 consecutive months – a streak not seen outside of recessions in past cycles 📈
🔶 Long-Term Unemployment: Americans unemployed for 27+ weeks surged by 317,000 year-over-year, totaling 1.61 million – approaching the highest since February 2022
These figures point to a weakening labor market and may indicate broader economic challenges ahead.
