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The U.S. labor market seems to be in trouble. The official report comes out tomorrow. The indicators do not look good.



Little change in hourly earnings is expected. New jobs, between 73K and 75K. Unemployment could rise a bit.

Bad news could bring rate cuts. Cryptos would be happy.

Layoffs are skyrocketing. August was brutal, the worst since the pandemic. This year is going through the roof.

Goldman Sachs believes that a lot of jobs from last year will be wiped out. What a review.

Everything falls:
- ADP says few new jobs
- More unemployed than job openings, a rare thing
- People do not give up, bad sign
- More people asking for unemployment benefits
- Fewer full-time jobs

The FED is at a crossroads. September looks like a sure cut. If everything continues to go poorly, more cuts in 2025. They might even stop the QT.

The crypto world is bursting at the seams. They expect things to get juicy if there is more loose money.
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