Goldman Sachs "U.S. nonfarm employment down 50,000 in October…largest decline since 2020"
Summary
- Goldman Sachs said it estimated that U.S. October nonfarm employment decreased by about 50,000.
- This is the largest decline since 2020, and it said signs of labor market cooling are pronounced.
- It said the official employment reports for September and October have not yet been released.
There are suggestions that U.S. October employment figures may have decreased by the largest margin since the 2020 pandemic.
On the 11th (local time), according to economic breaking news channel Walter Bloomberg, Goldman Sachs (Goldman Sachs) estimated that U.S. nonfarm employment decreased by about 50,000 in October. This is the largest decline since 2020.
According to the report, Goldman Sachs's Job Growth Tracker slowed from 85,000 in September to 50,000 in October, and it analyzed that an additional 100,000 jobs were lost due to the Trump administration's 'Deferred-Resignation Program'.
Goldman Sachs pointed to recent increases in layoffs and deterioration in labor market indicators, assessing that "signs of labor market cooling are becoming clear." However, the official employment reports for September and October have not yet been released due to the federal government shutdown.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)