The U.S. added 517,000 jobs in January massively beating economist forecasts of 185,000, leading to a fall in bitcoin prices. By SteveAlpher.
The U.S. added 517,000 jobs in January, reported the Bureau of Labor Statistics , a huge jump from the revised 260,000 in December, and massively beating economist forecasts for 185,000.Average hourly earnings stayed the same in January at 0.3% versus December with expectations of 0.3%. On a year-over-year basis, average hourly earnings fell 4.4% versus 4.6% in December and expectations for 4.3%.
This morning's strong payrolls report once again may dash the hopes of traders hoping that a significant deterioration in the strong employment picture might have the Fed put rate hikes on hold, and even get the central bank to think about rate cuts later in 2023.
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