Economic slowdown forewarned by Goldman Sachs, with the Labor Department significantly reducing their estimate of June job growth by 90%
In a recent article published by Financeflux, Henry Kanapi reports on the current state of the US economy, which is characterized by significantly slowed growth and weak job creation.
According to the data from the Bureau of Labor Statistics (BLS), the job growth figures for May and June have been revised down. The BLS revised down the job growth figures for June from 147,000 to 14,000, and for May from 144,000 to 19,000. This means that over a two-month period, the US economy has seen a combined downward revision in job growth of 258,000 jobs.
Goldman Sachs chief economist Jan Hatzius suggests that the US economy is losing steam due to the jobs data. Hatzius points to the slow GDP growth, estimated at a 1.2% annualized rate in the first half of 2025, as a key factor behind the labor softness. He also predicts a series of 25 basis point cuts in September, October, and December to support the labor market.
Hatzius warns that the downside risks in the labor market are present, and the Federal Reserve remains cautious. Chair Powell's comments emphasize the "downside risks" to the labor market and economic growth, signaling concern about the slowdown and inflation pressures.
In other finance news, MultiBank Group reports record H1 revenue of $209M. Meanwhile, the crypto space sees some exciting developments, with MBG Token delivering 7X returns since its launch. Solid launches on Fuse Network for decentralized banking, and Plume and Mercado Bitcoin announce plans to tokenize $500M real-world assets.
The article also covers a New York man who defrauded the IRS with a stolen $810,000 tax refund check and the US government being scammed out of $13,000,000 by a fake millionaire. Additionally, 113,575 Americans are at risk of fraud after a healthcare firm hack, and CARV's AI Stack is being used by builders to showcase possibilities.
The article also mentions Caldera partnering with EigenCloud to integrate EigenDA Version Two, and BYDFi Card officially launching for seamless Web 3.0 asset spending. Lastly, Little Pepe's Memecoin presale reaches $16,475,000, and a Bitcoin hack worth $14,500,000,000 has been discovered.
This article covers future finance, including macro, bitcoin, ethereum, crypto, and web 3. It was written by Henry Kanapi on August 3, 2025, and is categorized under Bitcoin, Ethereum, Trading, Altcoins, Futuremash, Financeflux, Blockchain, Regulators, Scams, HodlX, and Press Releases.
[1] BLS Job Openings and Labor Turnover Survey (JOLTS) [2] Goldman Sachs US Economic Outlook [3] BLS Employment Situation Summary [4] Federal Reserve Chair Jerome Powell's remarks [5] BLS Consumer Price Index (CPI) Report
- The current state of the US economy, as reported by Henry Kanapi in Financeflux, is characterized by slowed growth and weak job creation, with revised job growth figures for May and June showing a combined downward revision of 258,000 jobs.
- Goldman Sachs' Chief Economist, Jan Hatzius, suggests that the US economy is losing steam due to the jobs data, predicting a series of 25 basis point cuts in September, October, and December to support the labor market.
- In the crypto space, MBG Token has delivered 7X returns since its launch, while Solid launches on Fuse Network, Plume, and Mercado Bitcoin announce plans to tokenize $500M real-world assets.
- The article also discusses policy-and-legislation, politics, and general-news, covering topics such as a New York man defrauding the IRS, the US government being scammed out of $13,000,000 by a fake millionaire, a healthcare firm hack putting 113,575 Americans at risk of fraud, and a Bitcoin hack worth $14,500,000,000.
