U.S. August nonfarm payrolls fell short of expectations by 22,000… Unemployment rate 4.3%

Last month's U.S. employment data fell well short of market expectations.

The U.S. Department of Labor said on the 5th (local time) that nonfarm payrolls in August increased by 22,000 from the previous month. This figure is 53,000 below the market forecast (75,000). It is 57,000 fewer compared with the revised July figure (79,000).

Last month's unemployment rate was 4.3%, in line with experts' expectations (4.3%). It rose 0.1% percentage point from July's unemployment rate (4.2%).

Average hourly earnings rose 3.7% year-on-year, matching expectations. They also rose 0.3% month-on-month, in line with expectations. Average hourly earnings are an indicator of wage inflation.

Meanwhile, Bitcoin (BTC) briefly rose immediately after the employment data release. As of 9:35 p.m. that day, it was trading on Binance at $112,560, up 1.72% from the previous day, and immediately after the release it touched $113,000 before undergoing a short-term correction.