U.S. companies cut over 153,000 jobs in October, a 175% jump from last year, the highest October since 2003.
Main reasons: 🔹 Cost-cutting 🔹 AI replacing human jobs
What It Means The job market is slowing down, and this could push the Federal Reserve to cut interest rates soon. 🔸 Stocks may face short-term pressure 🔸 Crypto could benefit later if rate cuts happen
In Short The economy is cooling, AI is taking over more jobs, and rate cuts might be coming, which could bring new moves in both crypto and stocks.
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BREAKING NEWS 📈: Massive U.S. Job Cuts in October
U.S. companies cut over 153,000 jobs in October, a 175% jump from last year, the highest October since 2003.
Main reasons:
🔹 Cost-cutting
🔹 AI replacing human jobs
What It Means
The job market is slowing down, and this could push the Federal Reserve to cut interest rates soon.
🔸 Stocks may face short-term pressure
🔸 Crypto could benefit later if rate cuts happen
In Short
The economy is cooling, AI is taking over more jobs, and rate cuts might be coming, which could bring new moves in both crypto and stocks.