Today the latest US employment figures were released, and on the one hand, they were surprisingly positive, with 119,000 non-farm payrolls added when half that number was expected. On the other hand, the unemployment rate reached a four-year high of 4.4%. This is a rate we've never seen in my country; we're happy with 10%, but that's just how it is in different countries. However, that's not what I wanted to talk about; I just wanted to say that these figures are curious.
Image IA
Since Trump came to power and began imposing deportations and cracking down on illegal immigration, I've constantly heard that the United States would run out of labor and that no one would want to do the jobs of immigrants. Yet, the unemployment rate is the highest it's been in four years. Either Trump isn't succeeding in removing these people from the country, or they weren't as essential to the economy as was claimed. Well, I'll leave that to the Americans, who know much more than I do.
This data should make it harder for the Federal Reserve to lower interest rates, and lately that has meant lower rates for Bitcoin. We'll see if it plays out or if it also creates an inexplicable curiosity, like with the unemployment rate.
What's your bet: will Bitcoin react upwards or downwards?
Disclaimer.
This is not a purchase recommendation. I am not a regulated financial analyst. Under no circumstances should this information be construed as a recommendation to buy, sell, or hold a position.
You should be aware of the risks involved in investing and conduct your due research.
The information described here may not be accurate or may change at any time, so you should always check it.