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Eric Basmajian reports that cyclical payrolls experienced a significant increase in September, hitting a new high for the current cycle.
The latest data reflects a notable upward movement in payroll figures for cyclical industries, suggesting ongoing strength in this segment of the labor market.
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Basmajian has previously noted that most major U.S. recessions since 1970 saw the largest drawdowns in housing and durable goods, except in 2001, according to one of his earlier reports. He has also reported that rising interest rates are threatening homebuilder profit margins and job stability in the sector, as detailed in a separate article. These factors remain relevant for cyclical industries tracking current payroll trends.