The Kobeissi Letter(@KobeissiLetter):The US job market needs help: Since December 2023, the healthcare and social assistance sector has added +1.76 million jobs. Over the same period, all other private sector industries have collectively lost -127,800 jobs. Private sector employment, excluding healthcare, has fallen in 14 of the last 25 months. As a result, private payrolls excluding healthcare have fallen by an average of -12,000 each month over the last year. The biggest decline was recorded in February, when -110,000 jobs were shed in these sectors. The job market has never been more reliant on medical services.

2026.05.15 18:52

The US job market needs help: Since December 2023, the healthcare and social assistance sector has added +1.76 million jobs. Over the same period, all other private sector industries have collectively lost -127,800 jobs. Private sector employment, excluding healthcare, has fallen in 14 of the last 25 months. As a result, private payrolls excluding healthcare have fallen by an average of -12,000 each month over the last year. The biggest decline was recorded in February, when -110,000 jobs were shed in these sectors. The job market has never been more reliant on medical services.