U.S. job losses at 17-year high raise positive signals for bitcoin bulls

Unofficial economic indicators suggest the Fed may need to ease policy, boosting riskier assets. The U.S. jobs market is cooling fast, a timely blow that could force the Federal Reserve to loosen its purse strings and potentially put a floor under the price of bitcoin BTC$70,700.04. Planned layoffs, the job cuts that companies have announced but not yet executed, surged by 205% to 108,435 in January, according to data tracked by global outplacement firm Challenger, Gray & Christmas. That’s the highest reading since January 2009, months after Lehman Brothers collapsed and pushed the global economy into recession. Year-on-year, the announced cuts rose 118%, indicating a sharp weakening in the labor market in the first year of Donald Trump’s second stint as president. The technology industry