U.S. Creates 236K More Jobs in March Than Expected (239K)
In the moments after the approximately inline report, Bitcoin was barely altered at $27,900.
The Bureau of Labor Statistics (BLS) stated that there were 236,000 new jobs added in March, which was more than analyst expectations of 239,000, indicating that the U.S. employment market is still showing indications of resilience.
In addition, and contrary to forecasts, the BLS stated that the unemployment rate decreased to 3.5% from 3.6% in February.
The increase in jobs for February from 311,000 to 326,000 was revised upward.
In the immediate wake of the revelation, the price of bitcoin (BTC) remained constant at around $27,000.
The U.S. Federal Reserve will receive one final payrolls data this morning before its meeting on May 2-3, when it will decide whether to keep tightening monetary policy or pause it’s already more than one-year-long string of rate rises. Short-term rate futures markets were pricing in a roughly two-in-three possibility that the Fed will halt in May prior to the release of the report.
Data earlier this week started to suggest some weakening in the labour market, with the ADP announcing on Wednesday that just 145,000 private sector jobs were gained in March, as opposed to the 210,000 anticipated. Then, on Thursday, the Department of Labor announced weekly first applications for unemployment benefits at 228,000 as opposed to the projected 200,000. Additionally, the 192,000 initial claims from the prior week were increased to 246,000.
Source: www.Pipsafe.com – U.S. Creates 236K More Jobs in March Than Expected (239K)
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