CandleFocus Rising Job Cuts: How Layoffs Are Impacting Bitcoin and Asset Classes
2024-10-18
Author: Content Editor
The latest data from MacroEdge Research shows that there have been 73,646 job cuts in October 2024, a number that is expected to surpass this year's previous highs. Overall unemployment trends have been bleak throughout the year, with a continuous increase in job losses. The increase in layoffs in October has led to economic insecurity and is putting pressure on businesses and policymakers. The effects of these job cuts may extend beyond the labor market, impacting customer power and economic optimism in different industries. Economists are now speculating on how the Federal Open Market Committee (FOMC) may respond to these trends, with the possibility of initiating quantitative easing and cutting interest rates. The deteriorating job situation may also have an impact on assets like Bitcoin and other virtual currencies, as higher liquidity from quantitative easing has historically been beneficial to these types of assets.
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