Bitcoin Falls After 517K Jobs Added in January, Beating Expectations

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.

SteveAlpher

SteveAlpher Due to us going back to employment the way it was pre Covid then that shouldn’t have been a surprise. Majority of jobs are in the hospitality areas.

SteveAlpher wow

SteveAlpher bitcoin has had its little bit of excitement and is back to being manipulated down down down ⤵️⤵️⤵️ So get those shorts set guys! 👍

SteveAlpher Bitcoin decline follows record-breaking 517K job additions in January, surpassing expectations. Unemployment rate drops to 3.4%, surprising experts who predicted 3.6%.

SteveAlpher How is this possible when there are massive layoffs by the day

SteveAlpher Zero correlation to BTC.

SteveAlpher Haha next time try to post better fud

SteveAlpher Weird....people prefer working rather than investing

SteveAlpher more jobs leading to btc price fall? am i missing something or what

SteveAlpher So more jobs means lower prices for $BTC? Someone will have to explain that one to me.. 🤔

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