The number of permanent job losses jumped by 153,000 in October, to 1.84 million, the highest since November 2021.

Over the last 2 years, permanent job losers have risen by an alarming 665,000.

The number of people who have been terminated involuntarily and are seeking work is now up for 16 straight months.

In past economic cycles, such a long streak has never occurred outside of recessions.

Meanwhile, Americans who were unemployed for 27 weeks and over surged by 317,000 to 1.61 million year-over-year, near the highest since February 2022.

The labor market is weakening.