AI disrupts US employment with a 150K job loss in October, the highest in twenty years.
In October, U.S. employers cut around 153,000 jobs, marking the highest number of layoffs in that month for two decades. This brings the annual total to over a million job losses. A recent report suggests that many companies are attributing these cuts to the rise of AI. The last time October saw higher layoffs was […]
Japanese Yen drops close to 154.00 as US private employment rises in October.
The USD/JPY pair found some buyers around 154.05 in early Asian trading on Thursday. The U.S. dollar (USD) rose slightly against the Japanese yen (JPY) after recent U.S. economic indicators calmed fears about the economy and labor market, leading investors to entertain the idea of potential interest rate cuts later this year. According to data […]
Trump highlights increase in private sector employment and cuts to the federal workforce.
Trump Discusses Workforce Changes and Economic Performance President Donald Trump spoke on Wednesday about his administration’s initiatives aimed at reducing the federal workforce while simultaneously increasing jobs in the private sector. “Since January, we’ve cut 100,000 government jobs,” he said during a speech at the American Business Forum. He mentioned that government spending this quarter […]
The Fed’s Internal Struggle About Tariffs, Inflation, and Employment
Faults at the Fed: Disputes over tariffs, labor, and the forthcoming rate cut Recently, we examined how the ongoing debate regarding rate cuts has unsettled long-standing alliances within the Federal Reserve. Today, let’s dive into the sources of division and its implications for the market. The Fed’s unusual divisions Divisions within the Fed now extend […]
Cryptocurrency Values Decline Before US Employment Report as Bessent Raises Rate Concerns
Simply put Bitcoin remained around $108,000, while Ethereum traded near $3,750, leading to some caution as the U.S. jobs report looms on Friday. Bessent mentioned that high interest rates “may have pushed” aspects of the economy towards recession, stirring discussions about whether future rate cuts would indicate strength or weakness. On-chain data pointed to Bitcoin […]
Abigail Spanberger Declares She Will Not Collaborate With Trump to Generate Employment for Her State
Abigail Spanberger, the Democratic candidate for governor in Virginia, stated on Friday that she will not collaborate with President Donald Trump to generate jobs in the state. During an interview with PBS News Hour, Spanberger characterized Trump as “not the right person” to revitalize Virginia’s economy, pointing to his alleged “attacks on federal employees.” Many […]
From Cosmetics to Employment: Investors Look to Unusual Indicators as Government Data Halts During Shutdown
11 Interesting Metrics to Gauge Economic Conditions During a Government Shutdown The current government shutdown has reached its 14th day, and it doesn’t look like a resolution is imminent. Prediction markets suggest that the shutdown might last for 30 days or more, making it difficult to gauge how the economy is faring as we transition […]
USD/CAD falls below 1.4000 as positive Canadian employment results strengthen the Loonie
The Canadian dollar (CAD) made gains against the U.S. dollar (USD) on Friday, ending a three-day decline. This shift came after positive employment figures bolstered investor confidence, counteracting the recent strength of the dollar. At this point, USD/CAD is trading around 1.3990, down roughly 0.20%, easing from Thursday’s six-month peak near 1.4030, which followed the […]
Trump Urges Colleges to Increase Opportunities for Americans in Positions and Employment
President Donald Trump is urging top universities to open their doors wider for American students by cutting back on foreign student enrollments and curtailing diversity initiatives. This plan aimed at reducing foreign student numbers was presented to elite colleges recently. Currently, many prestigious universities reserve about 25% of their slots for international students, most of […]
EUR/USD remains stable as disappointing U.S. employment figures counteract shutdown concerns
The EUR/USD remains stable as US private employment figures in September were disappointing, revealing ongoing weaknesses in the labor market. Fitch Ratings noted that a government shutdown could reduce GDP growth by 0.1-0.2% weekly, but the outlook for the debt credit rating stays the same. While the Eurozone PMI surpassed expectations along with inflation data, […]