The U.S. labor market just surprised economists in September.
Here’s what happened:
1. Jobs added: 119,000 — more than double the expected 50,000.
2. Unemployment rate: 4.4%, slightly above the 4.3% forecast.
3. Timing: This report was delayed six weeks due to the government shutdown, leaving markets in the dark during a volatile period.
Why it matters:
Strong hiring shows the labor market is resilient, but the rising unemployment hints at cooling at the margins.
With no new data until mid-December, policymakers and traders are making decisions with only partial visibility.
Market reaction:
Bitcoin: Holding steady around $89,000 , helped by strong Nvidia earnings.
Equities: Nasdaq futures +1.9%, S&P 500 and Dow also higher.
Treasuries & Dollar: 10-year yield steady at 4.11%, U.S. dollar slightly stronger.
Sentiment: The report didn’t change expectations — the Fed is still unlikely to cut rates in December.
Takeaway:
Hiring is up ✅
Unemployment is rising ⚠️
Fed’s December outlook remains unchanged 🏦
Markets are now more focused on $BTC than on delayed economic data.
