Sunday, April 2, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News Bitcoin

Breaking: U.S. Unemployment Rate Falls To 3.5%; Crypto Market Turns Bullish

news by news
January 6, 2023
in Bitcoin, Crypto Market, Federal Reserve, News, United States
0
Breaking: U.S. Unemployment Rate Falls To 3.5%; Crypto Market Turns Bullish
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Breaking: Binance, CZ And Three Top Crypto Influencers Slapped With $1 Billion Lawsuit

Elon Musk’s SpaceX To Fly 62 Bitcoin To The Moon? Here’s Why

crypto market

According to the most recent Nonfarm Payrolls report from the Bureau of Labor Statistics, the United States added 223,000 jobs in the month of December. This was a decrease from the previously reported 263,000 jobs in November and was above the 200,000 jobs that were predicted by economists. In contrast to predictions that it would remain unchanged at 3.7%, the unemployment rate came in at 3.5%.

Signs Of No Recession Yet?

Even while economists, CEOs, and others have been discussing a possible recession, the new data confirm that there isn’t one just yet. Besides employment numbers, other economic indicators, such as consumer spending, also indicate that the United States economy is not in a recession. Despite the fact that the Federal Reserve began raising interest rates in March of last year at a pace not seen since the 1980s, the labor market has continued to be resilient and robust.

Read More: Check Out The Top 10 DeFi Lending Platforms Of 2023

In addition, data regarding job openings were also provided by the Bureau of Labor Statistics as part of the Job Openings and Labor Turnover Survey (JOLTS). According to the most recent data, the number of job opportunities in the United States in November was 10.5 million, which is comparable to the revised number of job openings in October. And the preliminary numbers for the layoff rate in November showed that it remained at 0.9% for the third month in a row, which is close to the record low.

Crypto Market Reaction

In minutes that followed the release of the unemployment news, the price of Bitcoin (BTC) remained unchanged at $16,750. With the headline number of 223,000 new jobs gained, the crypto market rebounded into the green zone in the past one hour, as per crypto market tracker CoinMarketCap.

At the time of this writing, both Bitcoin and Ethereum have seen a considerable increase in price over the past 30 minutes, with Bitcoin showing a rise of 0.30% and Ethereum showing an increase of 0.60%. The price of XRP, DOGE, and BNB, along with a few of the other prominent cryptocurrencies, all rose in response to the news.

Also Read:  Is Ethereum (ETH) Price Heading To $2000 As Whale Activity Heats Up?

The post Breaking: U.S. Unemployment Rate Falls To 3.5%; Crypto Market Turns Bullish appeared first on CoinGape.

Related Posts

Breaking: Binance, CZ And Three Top Crypto Influencers Slapped With $1 Billion Lawsuit
24/7 Cryptocurrency News

Breaking: Binance, CZ And Three Top Crypto Influencers Slapped With $1 Billion Lawsuit

April 1, 2023
Elon Musk’s SpaceX To Fly 62 Bitcoin To The Moon? Here’s Why
24/7 Cryptocurrency News

Elon Musk’s SpaceX To Fly 62 Bitcoin To The Moon? Here’s Why

April 1, 2023
Celsius Releases Reorganization Strategy; Finally Some Hope For Retail Customers?
24/7 Cryptocurrency News

Celsius Releases Reorganization Strategy; Finally Some Hope For Retail Customers?

April 1, 2023
Bitcoin Trades Above $28K Despite Fall Of Bittrex U.S.
24/7 Cryptocurrency News

Bitcoin Trades Above $28K Despite Fall Of Bittrex U.S.

April 1, 2023
Breaking: Binance Burns 1.6 Billion Terra Luna Classic Tokens, LUNC Price Jumps 3%
24/7 Cryptocurrency News

Breaking: Binance Burns 1.6 Billion Terra Luna Classic Tokens, LUNC Price Jumps 3%

April 1, 2023
XRP Lawyer States Best And Worst Outcomes In US SEC Vs Ripple Lawsuit
24/7 Cryptocurrency News

XRP Lawyer States Best And Worst Outcomes In US SEC Vs Ripple Lawsuit

April 1, 2023
Next Post
Just-In: DeFi Giant Balancer Issues Warning As $6.3 Mn Funds Are Now At Risk

Just-In: DeFi Giant Balancer Issues Warning As $6.3 Mn Funds Are Now At Risk

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport

March 23, 2023
Revealed: Top 5 Cryptos With Highest Development Activity

Revealed: Top 5 Cryptos With Highest Development Activity

January 24, 2023
Why This American Billionaire Investor Is Still Bullish On Bitcoin?

Why This American Billionaire Investor Is Still Bullish On Bitcoin?

December 22, 2022
Crypto News Live Updates Dec 31: Grayscale Troubled Bitcoin Trust Up For Grabs?

Crypto News Live Updates Dec 31: Grayscale Troubled Bitcoin Trust Up For Grabs?

December 31, 2022
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In