November's employment figures paint a troubling picture for the broader economy. The jobless rate hit 4.6%—the highest we've seen in four years. What's more concerning is the composition: manufacturing shed positions, part-time work expanded while full-time jobs contracted. This hollowing out of quality employment typically signals economic stress. Looking ahead, the squeeze will likely intensify. With monetary policy still fueling inflation despite recent rate adjustments, the labor market faces mounting headwinds. Weaker employment trends usually trigger asset reallocation, and crypto markets often react sharply when macro conditions deteriorate. Worth monitoring closely for portfolio implications.