US Jobs Revisions Weaken the Case for Fed Rate Hikes
The report complicates the outlook rather than settling it: inflation remains above the Fed’s 2% goal, while the household survey points to a more mixed labor picture.
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The report complicates the outlook rather than settling it: inflation remains above the Fed’s 2% goal, while the household survey points to a more mixed labor picture.
The gain fell 61,000 short of the 90,000 forecast, sharpening investors' focus on growth risks and interest-rate expectations.
Weaker-than-expected labor figures sharpen concerns about economic growth and put the interest-rate outlook in focus for risk-asset investors.
About $2.6 billion in September spot Bitcoin ETF inflows and a weak U.S. jobs report sharpen the focus on liquidity behind the rally.
The stronger hiring figure may complicate the case for near-term rate cuts, while weakness in financial and professional services points to an uneven labor market.
The gender breakdown gives August's 162,000-job gain a sharply concentrated profile.
Cooling spot-ETF demand removes a key source of Bitcoin support as investors turn to the labor market for the next macro signal.
The payroll shock eased September rate-hike expectations, supporting risk appetite, while the participation-driven unemployment drop showed the report was not uniformly strong.
US small business hiring is expected to fall to its lowest level since May 2020, a threshold that carries significant…