U.S. payroll growth slowed sharply in June, with only 57,000 jobs added
The U.S. economy added only 57,000 jobs in June, falling significantly short of economist expectations and cooling market fears of aggressive interest rate hikes. Following the report, Bitcoin and stock market futures saw a positive reaction as investors recalibrated their expectations for Federal Reserve policy.
Why it matters
The weaker-than-expected jobs data suggests a potential shift in the Federal Reserve's hawkish stance, directly impacting global financial markets and cryptocurrency valuations.
The U.S. added 57,000 jobs in June, according to the government's Nonfarm Payrolls Report released Thursday morning. That's lower than the 110,000 forecasted by economists and significantly below May's 129,000 gain (revised from an originally reported 172,000).
The report presents economic data and market reactions objectively, though it includes specific mentions of political figures like Trump in the context of market speculation.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in