US Employment Growth Is slowing Less Than Predicted; Bitcoin Falls Below The $20k Mark
Join Our Telegram channel to stay up to date on breaking news coverage Although the 263,000 jobs added by U.S. companies in September were slightly higher than predicted, they nonetheless show a declining labor market As the over expected result provides the Federal Reserve less room to choose for a slower rate rise at the next monetary policy meeting in October, Bitcoin (BTC) dropped by approximately 2% after the report was released by the Bureau of Labor Statistics. Prices of risky assets like stocks and cryptocurrencies may have been protected from further declines if the Fed had eased policy somewhat. The job data indicates that hiring has slowed down significantly since August, when the United States acquired 315,000 positions; nonetheless, it may still generate alarm for central bankers who are hoping to relieve an extremely tight labor market for rest of the year. According to Paul Craig, portfolio manager at Quilter Investors, it is now “obvious” that we ...