Labor market in the US cools: only 73,000 jobs in July and unemployment increased

By Canuto

The US labor market showed a cooling in July, with only 73,000 jobs created, – below expectations – and the unemployment rate rose to 4.2%.

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The US labor market showed a cooling in July, with only 73,000 created jobs.
The figures, although superior to the June data, were below expectations.
The payroll report comes when the Federal Reserve discusses a change in monetary policy.
Bitcoin rose slightly but the action is primarily bassist among cryptocurrencies.

The US labor market showed signals of weakening in July, with the creation of just 73,000 non -agricultural jobs, according to the report published Friday by the Office of Labor Statistics (BLS).

The slow growth of job data, although greater than the 14,000 aggregates of June, was below the expectations of analysts, who anticipated an increase of between 100,000 and 110,000 jobs, according to reports from COINDESK and CNBC.

To this is added a worrying review of previous data: the jobs reported for May and June were adjusted to the decline in a total of 258,000. May, initially with a report of 144,000 new jobs, was reduced to only 19,000, while June went from 147,000 to 14,000, reflecting a much less optimistic panorama than was thought.

The unemployment rate, meanwhile, rose slightly to 4.2%, from June 4.1%, an increase that, although in line with projections, reinforces concerns about economic cooling.

Pressure on the Federal Reserve

Weak data arrive at a critical moment for the Federal Reserve, which this week decided to keep its reference interest rate unchanged in the range of 4.25 – 4.50%. The president of the FED, Jerome Powell, adopted a cautious tone at his press conference, which reduced the expectations of a feat of fees at the next September meeting.

According to the tool Fedwatch Of CME, the probability of a cut has fallen to 40%, compared to the estimate of the 75% market a month ago. However, the disappointing labor report could change the balance, especially after knowing that two FED governors, Chris Waller and Michelle Bowman, advocated an immediate cut.

Cryptocurrency market reaction

In the cryptocurrency market, the response was mixed, although the trend remains primarily bassist. Bitcoin (BTC) increased slightly price reaching USD $ 115,800 after the report, according to data from Coingcko.

The largest cryptocurrency in the world closed its best month in July despite the back of prices, with an accumulated gain of 8% in the month. Its price is around USD $ at the time of editing this item, 2.4% lower in 24 hours.

The rest of the main cryptocurrencies faces bearish pressure, with the total capitalization of the market falling almost 7% since yesterday at this time. Ether (Eth) has seen a 4% reverse in the last 24 hours, while other Altcoins such as Solarium (SUN), Dogecoin (Doge) and Cardano (ADA), record slightly above 5% in the period.

An uncertain panorama

The US non -agricultural payroll report for July shows the challenges facing the US economy, with a labor market that loses impulse and reviews that question the solidity of the previous data. While inflationary pressures persist and the Federal Reserve evaluates its next steps, investors and analysts will remain attentive to the signs of a possible change in monetary policy that can stabilize the economic course of the country.

Article written with the help of AI, reviewed and edited by Diariobitcoin

Image generated with artificial intelligence tool, under free use license

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