US Jobs On A Decline: Ripple Effect For Bitcoin, Altcoins?
The U.S experienced the largest decline in job openings in August 2022 as the markets lost $9 trillion in value. The job openings decreased by 6.2%, which is the biggest slump since April 2020 due to the Covid-19 lockdown era. The 6. 2% job decline is considered to be the second largest decline ever recorded in American history. Several sectors are now showing the least vacancies with demand for labor decreasing in the United States. The development will spill over to the crypto markets in the coming future and may affect Bitcoin and Altcoins in particular. Also Read: Bitcoin Doomsday Prediction: BTC Could Plummet to $3,500 Next Will Declining Jobs Affect Bitcoin & The Crypto Markets? Source: NewsBTC The US experienced negative GDP for three consecutive quarters in 2022 making it fall into the term of a technical recession. However, despite the decline in available jobs, the US unemployment rate stands strong at 3.7%. Nonetheless, the decrease in job openings si