The US Economy Unexpectedly Lost 92,000 Jobs in February
Cointelegraph
The US unexpectedly lost 92,000 jobs in February, while finance and insurance job openings fell to 13-year lows.Summary
February saw an unexpected loss of 92,000 jobs in the US, with the healthcare sector accounting for a significant portion of the decline due to a recent strike. Despite this overall loss, the financial activities sector actually gained 10,000 jobs. However, job openings in finance and insurance have plummeted to levels not seen in 13 years, decreasing by 117,000 since December and nearing recession levels. The Kobeissi Letter notes a 75% drop in available vacancies since the 2022 peak, even lower than during the 2001 recession. This weakening job market could potentially prompt the Federal Reserve to cut interest rates, which may impact the crypto market both positively and negatively.
(Source：Cointelegraph)