The Kobeissi Letter(@KobeissiLetter):US-hiring plans remain historically depressed: US-based employers announced plans to add 10,933 jobs in June, marking a -44% decline from 19,536 in May. Year-to-date, US hiring plans rose +10% YoY, to 91,405 workers. This comes as technology sector hiring plans surged +167% YoY, to 14,761 workers. However, excluding technology, hiring plans are down -1% YoY, to 76,644 workers. The decline has been driven by entertainment and leisure hiring plans, which are down -57% YoY to 12,096 workers so far in 2026. This also follows 5 consecutive years of declining hiring intentions, which fell -84% since 2020, to 508,000 for the full year 2025. Hiring continues to weaken beneath the surface.

2026.07.02 13:47

US-hiring plans remain historically depressed: US-based employers announced plans to add 10,933 jobs in June, marking a -44% decline from 19,536 in May. Year-to-date, US hiring plans rose +10% YoY, to 91,405 workers. This comes as technology sector hiring plans surged +167% YoY, to 14,761 workers. However, excluding technology, hiring plans are down -1% YoY, to 76,644 workers. The decline has been driven by entertainment and leisure hiring plans, which are down -57% YoY to 12,096 workers so far in 2026. This also follows 5 consecutive years of declining hiring intentions, which fell -84% since 2020, to 508,000 for the full year 2025. Hiring continues to weaken beneath the surface.