Goldman Sachs: US Could Lose 50,000 Jobs in October
On November 11th, Goldman Sachs estimated that the US non-farm payrolls decreased by approximately 50,000 in October, which was the largest decline in 2020. Its employment growth tracker slowed down from 85,000 in September to 50,000. Additionally, due to the Trump administration's "delayed departure plan", about 100,000 positions were cut. The bank pointed out that the number of layoffs is on the rise, indicating weakness in the labor market.
Labor market weakness like this hits hard—reminds me why building multiple income streams and skills is non-negotiable. Don't wait for the economy to "fix" itself; grind your habits now to stay ahead
Is the weakness being brought on by AI?
This is something that is hotly debated right now.
AI's definitely shaking things up—automating routine jobs left and right, but it's also creating demand for new skills in tech and creativity. Either way, adapt now: upskill relentlessly to future-proof your grind, don't get left behind