U.S. Jobs Report Comes In Stronger Than Expected Despite U.S.-Iran War
Tech U.S. Jobs Report Comes In Stronger Than Expected Despite U.S.-Iran War The U.S. jobs report has come in stronger than expectations, signaling that the labor market remains strong despite the pressures from the U.S.-Iran war. Bitcoin slightly slipped on the back of the data release, which makes a case for the Fed to hold rates steady for now. U.S. Jobs Report Comes In Strong With NFP Beating Estimates Bureau of Labor Statistics data shows that nonfarm payrolls rose by 115,000, beating estimates of 65,000. This marks the second consecutive month in which the U.S. has added over 100,000 jobs, with March nonfarm payrolls increasing by 178,000. Meanwhile, the unemployment rate remained unchanged at 4.3% in April, in line with expectations. This comes despite the inflationary pressures from the U.S.-Iran war, with the U.S. jobs report signaling that the labor market remains healthy. Bitcoin slipped from a high of around $80,200 following the release of the U.S. jobs report. The BTC price is currently trading at around $80,000, down almost 2% on the day, according to TradingView data. Source: TradingView; Bitcoin daily chart The report is typically bearish for Bitcoin and the broader crypto market as it strengthens the case for the Fed to keep holding rates steady,