The labor market shows clearer signs of cooling. Between October and November, the count of involuntary part-time workers—those seeking full-time roles but unable to secure them—surged by 909,000, reaching 5.5 million. This marks the highest level since March 2021, signaling deteriorating employment conditions. When part-time employment driven by economic necessity climbs this sharply, it typically precedes broader shifts in consumer spending and market sentiment. For traders and investors monitoring macro headwinds, this metric deserves attention as an early warning of potential economic slowdown.