According to The Kobeissi Letter, the US job market is showing signs of underlying weakness, with a significant increase in part-time employment. In February, the number of people working part-time jobs while seeking full-time employment surged by 460,000, reaching 4.9 million, the highest level since May 2021. Over the past 2.5 years, the number of underemployed Americans has increased by 1.3 million, indicating a growing trend of underemployment in the US economy.

According to The Kobeissi Letter, the US job market is deteriorating beneath the surface, with a significant increase in underemployment. In February, the number of people working part-time jobs while seeking full-time employment surged by 460,000 to 4.9 million, marking the highest level since May 2021. Over the past 2.5 years, the underemployed population in the US has grown by 1.3 million.