The number of non-farm payrolls in the United States increased by only 114,000 in July, the smallest increase since April 2024｜(August 3)

● The number of non-farm payrolls in the United States increased by only 114,000 in July, the smallest increase since April 2024

According to Odaily Planet Daily, the seasonally adjusted non-farm payrolls in the United States increased by 114,000 in July, with an expected increase of 175,000, and the previous value was revised from 206,000 to 179,000. The US non-farm data cooled as expected, the smallest increase since April 2024.

● The US unemployment rate rose to 4.3% in July, the highest since October 2021

According to Odaily Planet Daily, the US unemployment rate in July was 4.3%, higher than the expected 4.10% and the previous value of 4.10%. This is the highest level since October 2021.

● The U.S. unemployment rate in July triggered Sam's Law, predicting an economic recession

According to PANews, the U.S. unemployment rate in July was 4.3%, the highest since October 2021, triggering Sam's Law, which predicts an economic recession. Sam's Law believes that once the three-month moving average of the unemployment rate is 0.5 percentage points higher than the low point of the past year, it means that a recession has begun.

● Goldman Sachs: The weak non-farm payrolls report in August may lead to a 50 basis point interest rate cut in September

According to Jinshi, Goldman Sachs said that if the August non-farm payrolls report also recorded a weak performance and confirmed that employment growth slowed, then the possibility of a 50 basis point interest rate cut in September could not be ruled out.

● Morgan Stanley allows wealth advisors to promote Bitcoin ETFs

According to BlockBeats, on August 2, according to market news, Morgan Stanley has allowed its wealth advisors to promote Bitcoin ETFs to major Wall Street companies.

● Bitcoin and Ethereum on-chain transaction volume increased by 31.8% in July

According to BlockBeats, on August 2, according to data from The Block Pro, the adjusted total on-chain transaction volume of Bitcoin and Ethereum in July increased by 31.8% overall, rising to $445 billion. Among them, the adjusted on-chain transaction volume of Bitcoin increased by 34.7%, and the increase of Ethereum was 27.7%.

● Santiment: The key psychological levels of BTC and ETH are $60,000 and $2,900 respectively

According to Odaily Planet Daily, the cryptocurrency intelligence platform Santiment posted on the X platform that this decline is roughly the same as the decline in early July, but the same enthusiasm for buying on dips has not yet appeared. It is expected that $60,000 BTC or $2,900 ETH will become the key