Summary
- The May nonfarm payrolls in the United States recorded 139,000 jobs, surpassing market expectations.
- The average hourly wage rose 3.9% year-on-year, raising concerns about wage inflation.
- Immediately after the release of the employment data, the Bitcoin (BTC) price surged by 0.26%.
Employment data in the United States surpassed expectations (126,000 jobs), indicating a strong labor market.
According to data released by the U.S. Department of Labor on the 6th (local time), nonfarm payrolls in the U.S. for May totaled 139,000 jobs, exceeding the market forecast of 126,000 jobs. The unemployment rate matched the market expectation of 4.2%.
Meanwhile, average hourly earnings—a measure of wage inflation—increased by 3.9% year-on-year, beating the anticipated 3.7%. On a month-over-month basis, average hourly earnings rose 0.4%, also exceeding the market projection of 0.3%.
At 21:32 on the same day, Bitcoin (BTC) was trading at $104,077, up 0.26% immediately after the release of the employment data.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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