Recently, the U.S. job market has shown concerning trends. According to the latest data, the three major employment indicators — the U.S. Bureau of Labor Statistics (BLS), ADP Research Institute, and Bank of America’s employment data — have all seen a simultaneous decline, with growth rates nearing zero. Such a simultaneous drop of these three indicators to such low levels is historically very rare, raising market concerns about the economic outlook.

Analysts point out that this phenomenon is likely a sign that the economic recession has already begun. The labor market, as an important barometer of economic health, is undoubtedly putting significant pressure on the overall economy with its weak performance.

It is worth noting that the sluggishness of the job market may have a ripple effect across various industries, including the emerging cryptocurrency market. Investors may need to reassess their investment strategies to cope with the potential economic turmoil ahead.

However, despite the current data not being very optimistic, the economy is a complex system that still requires more indicators and time to confirm whether it has truly entered a recession period. Policymakers and market participants will closely monitor future economic data to make corresponding decisions and adjustments.