Core Insights - The percentage of subprime borrowers in the U.S. who are at least 60 days overdue on auto loans rose to 6.65% in October, the highest level recorded since 1994 [1] - Economic indicators show a slowdown in hiring and demand for workers, with companies like Starbucks, Target, and Amazon announcing layoffs [1] Group 1: Auto Loan Delinquency - The delinquency rate for auto loans among subprime borrowers has reached a record high, indicating increasing financial strain on consumers [1] - The rise in delinquencies is attributed to ongoing inflation pressures and the resumption of student loan payments [1] Group 2: Employment Trends - The share of consumers in the highest risk credit category has increased to levels not seen since 2019, with subprime borrowers making up 14.4% of tracked consumers in Q3, up from 13.9% year-over-year [1] - A report indicates that total layoffs in the U.S. have approached 1 million this year, marking the highest level for the same period since 2020 [1]