Summary
- The US April nonfarm payrolls exceeded market expectations, indicating the robustness of the labor market.
- The average hourly wage fell short of expectations, reducing concerns about wage inflation.
- After the labor data release, Bitcoin surpassed $97,000, showing a short-term upward trend.
The US employment figures exceeded expectations (138,000 jobs), showing a robust labor market.
According to data released by the US Department of Labor on the 2nd (local time), the US nonfarm payrolls for April were 177,000 jobs, surpassing the market expectation of 138,000 jobs. The unemployment rate matched the market expectation of 4.2%.
On the other hand, the average hourly wage, which can hint at wage inflation, increased by 3.8% year-on-year, falling short of the expected 3.9%. It also rose by 0.2% month-on-month, below the expected 0.3%.
Immediately after the labor data release, Bitcoin (BTC) touched $97,000, showing a short-term upward trend.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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