Despite the US government shutdown delaying official employment data releases, private institutions have provided insights into the health of the U.S. job market. Job site Indeed reported a sharp decline in postings at the end of October, reaching levels not seen since 2021. Revelio Labs estimated a net job loss of around 9,100 positions in October, primarily fueled by government sector layoffs. Challenger’s report revealed that U.S. companies announced a staggering 153,074 job cuts in October alone, representing a year-on-year surge of 175% and the largest increase in seven months. This marks a 65% increase in layoffs this year compared to the previous year. Various financial institutions also weighed in. UBS Group highlighted ADP and Challenger data suggesting a weak labor market. Meanwhile, TS Lombard observed that recent data points suggest no further deterioration in the job market. Bank of America noted that while the US employment market is experiencing a slowdown, it hasn’t reached collapse levels. Ernst & Young pointed out that business leaders are anticipating reduced talent demand due to weak hiring and emerging technologies like AI, which could persist in the future.