Crypto:
31996
Bitcoin:
$69.220
% 0.70
BTC Dominance:
%59.0
% 0.10
Market Cap:
$2.34 T
% 4.26
Fear & Greed:
77 / 100
Bitcoin:
$ 69.220
BTC Dominance:
% 59.0
Market Cap:
$2.34 T

U.S. Data Released!

Us

The employment data released by the U.S. Department of Labor on November 1, 2024, offers crucial indicators of the U.S. economic outlook.

Average Hourly Earnings rose by 0.4% month-over-month, surpassing the expected 0.3% increase and indicating a stronger-than-anticipated rise in workers’ income. This follows a previous rise of 0.3%, signaling a recovery trend that aligns with economists’ expectations.

Non-Farm Payrolls reported an addition of just 12,000 new jobs in October, falling significantly short of the projected 223,000. This shortfall may signal a slowdown in the U.S. labor market. Experts suggest that these numbers could increase the likelihood of future rate cuts by the Federal Reserve.

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The Unemployment Rate remained steady at 4.1%, reflecting a pause in the labor market’s recovery and highlighting potential weaknesses in the U.S. economy. Analysts note that this steadiness in the unemployment rate, coupled with moderate wage growth, could increase pressure on the Fed to consider easing its monetary policy. These figures present a challenging economic picture, one that needs careful balance between inflation pressures and labor demand.

Given this data, the U.S. is expected to take a cautious approach in its future monetary policy decisions. The ongoing fluctuations in the dollar market may drive increased interest in safe-haven assets such as gold, as investors assess these developments.

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