🚨 BREAKING: The U.S. labor market is cooling rapidly

ADP data shows that in October, American companies shed an average of 2,500 jobs per week, a clear signal that the labor market is starting to buckle under economic pressure.

At the same time, the Department of Labor reports that initial jobless claims rose to 232,000 for the week ending October 18 — one of the highest levels this year.

What does this mean?

• Employers are slowing down hiring and beginning to cut jobs

• Recession risks are rising

• The Fed may be forced to maintain — or even accelerate — monetary easing if the deterioration continues

In short: the U.S. labor market is cooling, and this could strongly influence markets in the coming weeks.