U.S. Added Just 12K Jobs in October, Far Short of 113K Expected
The October employment numbers are among the last pieces of economic data the Fed will see prior to its policy setting meeting next week.
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Employment
The October employment numbers are among the last pieces of economic data the Fed will see prior to its policy setting meeting next week.
The U.S. jobs report for September was released Friday morning (Unsplash)
The U.S. released August jobs numbers Friday morning (Ernie Journeys/Unsplash)
The U.S. central bank has indicated it will cut rates at its mid-September meeting, but the size of the move is up for debate.
The U.S. jobs report for July was released Friday morning (Tim Mossholder/Unsplash, modified by CoinDesk)
Recent soft economic and inflation data combined with rate cuts this week in Europe and Canada have investors rethinking expectations about Fed policy.
The government’s jobs report for April was released Friday morning (Unsplash)
The ETF-led bitcoin rally has stalled over the past month, at least in part thanks to economic indicators pointing to higher than expected interest rates.
So far in 2024, bitcoin’s concerns about the path of the economy or interest rates have taken a back seat to the overwhelming demand from the spot ETFs.
The latest update on the labor market came less than two days after the Fed’s Jerome Powell poured cold water on market hopes of a rate cut in March.