Note the disconnect between the red line and the blue line in October. Despite having similar names, they actually are two different measurements of employment. The red line "employment level" is based on the household survey from the Current Population Survey. The blue line "all employees, total nonfarm" is based on the establishment (employer) survey of the Current Employment Statistics. So they measure jobs from two different directions.
They actually have different definitions of employment and different methods. The household survey is a broader measure. For comparison purposes, BLS produces an adjusted version of the household survey that matches the definition of the employer survey.
While they tend to trend with each other divergences can happen. There is sampling error between the two surveys. The household survey is a smaller sample than the payroll survey, so tends to have greater error. Since the employer survey measures payroll, it may differ from the household survey if the job is off-the-books or if someone switched jobs during the sampling period.