The U.S. government reported an increase in employment by 139,000 in May. That's pretty much what you'd expect.
The unemployment rate remained flat at 4.2%.
Bitcoin, which had already risen before the employment statistics announcement, further increased slightly and surpassed $104,000.
According to a report released by the U.S. Bureau of Labor Statistics (BLS) on the 6th, the number of non-farm payrolls increased by 139,000 in May. Economists had predicted an increase of 130,000, and the increase in payrolls for April was revised down to 147,000 from the initially reported 177,000.
The unemployment rate in May was 4.2%, the same level as the expected 4.2% and April's 4.2%.
Amid a strong rebound from the sharp decline on the 5th, the price of Bitcoin (BTC) rose even slightly in response to the news, slightly above $104,000 (about 15.08 million yen, converted to 145 yen per dollar).
The jobs report is always a high-profile indicator, but the May jobs report was particularly important this week as a series of economic indicators pointed to a deepening weakness in the economy. Specifically, the ADP employment report showed payroll growth to a more than two-year low, the ISM Non-Manufacturing Index fell to levels suggesting a recession, and initial jobless claims reached its highest level since October.
The yield on the 10-year Treasury note, which was close to 4.50% earlier in the week, fell to 4.32% ahead of the release of the jobs report this morning, and the probability that the Federal Reserve will cut rates in the summer has increased significantly. The yield on the 10-year Treasury note rebounded sharply to 4.44% minutes after the announcement, and the probability of a Fed rate cut in July fell from 30% to just 16%, according to CME FedWatch.
Looking further ahead, the probability that the Fed will make more than one rate cut by the September meeting has decreased from 75% to 65%.
The already rising U.S. stock index futures expanded their gains, with the Nasdaq up 0.8% and the S&P 500 up 0.75%.
Regarding other figures from the employment statistics, the average hourly wage in May rose by 0.4%, exceeding expectations of 0.3% and April's 0.2%. Year-on-year, the average hourly wage increased by 3.9%. The forecast was 3.7%, and April's figure was 3.9%.
| Translation & Editing: Rin Han
| Image: Shutterstock
｜Original: U.S. Added 139K Jobs in May, Roughly In Line With Forecasts
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May U.S. employment statistics show an increase of 139,000 jobs, almost as expected | CoinDesk JAPAN
According to a report released by the U.S. Bureau of Labor Statistics (BLS) on the 6th, the number of non-farm payrolls increased by 139,000 in May. Economists had predicted an increase of 130,000, and the increase in payrolls for April was revised down to 147,000 from the initially reported 177,000.
The unemployment rate in May was 4.2%, the same level as the expected 4.2% and April's 4.2%.
Amid a strong rebound from the sharp decline on the 5th, the price of Bitcoin (BTC) rose even slightly in response to the news, slightly above $104,000 (about 15.08 million yen, converted to 145 yen per dollar).
The jobs report is always a high-profile indicator, but the May jobs report was particularly important this week as a series of economic indicators pointed to a deepening weakness in the economy. Specifically, the ADP employment report showed payroll growth to a more than two-year low, the ISM Non-Manufacturing Index fell to levels suggesting a recession, and initial jobless claims reached its highest level since October.
The yield on the 10-year Treasury note, which was close to 4.50% earlier in the week, fell to 4.32% ahead of the release of the jobs report this morning, and the probability that the Federal Reserve will cut rates in the summer has increased significantly. The yield on the 10-year Treasury note rebounded sharply to 4.44% minutes after the announcement, and the probability of a Fed rate cut in July fell from 30% to just 16%, according to CME FedWatch.
Looking further ahead, the probability that the Fed will make more than one rate cut by the September meeting has decreased from 75% to 65%.
The already rising U.S. stock index futures expanded their gains, with the Nasdaq up 0.8% and the S&P 500 up 0.75%.
Regarding other figures from the employment statistics, the average hourly wage in May rose by 0.4%, exceeding expectations of 0.3% and April's 0.2%. Year-on-year, the average hourly wage increased by 3.9%. The forecast was 3.7%, and April's figure was 3.9%.
| Translation & Editing: Rin Han | Image: Shutterstock ｜Original: U.S. Added 139K Jobs in May, Roughly In Line With Forecasts
[Recommended Reading] What is Bitcoin
Bitcoin Purchase
Bitcoin exchange