@centinelalp
US job growth slows in August, hints at recession š
The US August jobs report showed job growth slowed, with just 142,000 new non-farm jobs created, lower than the 160,000 expected.
šØāš¾ The unemployment rate fell slightly to 4.2%, as expected, and was the lowest since June, marking an improvement after four straight months of increases.
However, the report also showed a downward revision to the number of jobs created in the previous two months, with a total of 86,000 fewer than initially reported.
š„ These signs of decline have raised concerns about the risk of an economic recession, sending stocks tumbling, with the S&P 500 down nearly 5%.
āļø The weak job market could prompt the Federal Reserve (FED) to consider cutting interest rates, creating a positive signal for the cryptocurrency market, especially Bitcoin.
0 reply
0 recast
1 reaction