Goldman Sachs: US Could Lose 50,000 Jobs in October

BlockBeats News, November 11th, Goldman Sachs estimated that the US non-farm payrolls shrank by about 50,000 in October, marking the largest decline in 2020. Its employment growth tracker slowed from 85,000 in September to 50,000, with an additional 100,000 positions being cut due to the Trump administration's "delayed departure plan."

The bank pointed out that the number of layoffs is rising, signaling weakness in the labor market. (FX678)