US Payrolls Hit Record, Europe's Petrol Car Market Fades

American Labour Sets New Heights

The US jobs market logged its strongest October in nearly three decades. Nonfarm payrolls reached 159,293 thousand in October 2026, the largest October reading since records began in 1997, according to the US jobs and CPI dataset ORTEX tracks. That beat the previous October best of 158,408 thousand, set just a year earlier. Average hourly earnings rose to $38.00, also the highest October figure since the series started in 2006, up from $36.85 in October 2025. Canada tells a different story. Employment there has fallen for three consecutive months, standing at 21,100 thousand in October 2026, according to the same Canada macro dataset.

Europe's Petrol Market Collapses, EV Pockets Surge

European new petrol car registrations came in at 4,548 vehicles in October 2026. That is the smallest October figure on record since 2016, below the previous low of 5,265 set in October 2022, per ORTEX's Europe car totals data. The contrast with Finland is sharp. Finland registered 3,404 new battery-electric cars in October 2026, the largest October reading since 2014, up from 2,305 in October 2023, according to the Finnish cars dataset. Singapore also set a record for new battery-electric registrations in September 2026, the largest September since the series began in 2022. The European petrol collapse lands directly on the upcoming earnings calendar. PSNY reports on 12 November. Dutch car registrations, a dataset ORTEX has measured to lead Polestar's revenue by 60 days with a strong fit, are running minus 68% on the same quarter last year, with one of three months in. German car registrations, also measured to lead Polestar's revenue, are running plus 32% on the same quarter last year, with all three months in. Mazda Motor Corporation (7261) reports on 9 November. Its German car lead is running plus 32% year-on-year, with three months in. Its Dutch car lead is running minus 5%, with one month in.

Healthcare, Air Traffic and India Payments

Medicare Advantage penetration reached 51.1% in July 2026, the highest reading since the series began in 2013, with beneficiaries also at a series high of 36.2 million, according to ORTEX's Medicare dataset. Korean air traffic hit record October levels for both flights and passengers since the series began in 2023. India's UPI payments network, tracked via NPCI UPI data, saw person-to-person transactions rise 22% in October versus a year ago. Merchant payment values rose 18% over the same period. Honda Motor (HMC) reports on 10 November. The Japanese cars dataset, measured to lead Honda's revenue by 65 days with a strong fit, is running plus 6% on the same quarter last year, with one month in. Nissan Motor (7201) also reports on 10 November. The same Japanese cars dataset, with a strong fit and 65-day lead for Nissan, is running plus 12% year-on-year, with one month in.