Wall Street expects that the non-farm payrolls in the United States will reach 50,000 in September, up from 22,000 in August. In addition, the unemployment rate in the United States is expected to remain unchanged at 4.3%. Due to the rise in employment and the significant decrease in the likelihood of a Fed rate cut in December, participants in the Crypto Assets market are on high alert, preparing to respond to market fluctuations.
The U.S. Bureau of Labor Statistics (BLS) will release the non-farm payroll and unemployment rate data for September on November 20. Since this is the first key employment data released after a 43-day government shutdown, the publication of this employment data may have a significant impact on Bitcoin prices and the trends in the Crypto Assets market.
Wall Street expects the non-farm payroll to rise by 50,000 in September, further confirming signs of weakness in the labor market. Over the past few months, the U.S. labor market has continued to weaken, but amid rising inflation concerns, Fed officials still have differing views on whether to cut interest rates again.
At the same time, the unemployment rate is expected to remain unchanged at 4.3%. The average hourly wage is also expected to rise by 0.3% this month, keeping the annual growth rate unchanged at 4.7%. If employment data shows a strengthening labor market, Bitcoin prices and the broader Crypto Assets market may retrace recent gains.
In addition, the employment report for October was canceled due to missing survey data caused by the longest government shutdown in history. The employment report for November is scheduled to be released on December 16. Previously, the U.S. Bureau of Labor Statistics (BLS) estimated that the number of new jobs added over the 12 months ending in March was about 910,000 less than previously reported.
Sung Won Sohn, a professor of finance and economics at Loyola Marymount University, told Reuters: “The labor market is clearly slowing down, and this trend is expected to continue. We will experience a period of bottoming out, but I don't think we will fall into a recession.” (CoinGape)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gate Daily Report (April 27): Comments related to the Trump shooting incident boost the TRUMP coin; the U.S. Department of the Treasury will include Venmo in debt-inquiry donation payments
Bitcoin (BTC) sees a sharp short-term surge and rebound, temporarily trading at around $78,900 as of April 27. Trump’s provocative remarks about the shooting incident boosted the prices of meme coins such as TRUMP, MAGA, and DJT, because a carefully crafted narrative has once again come back into view. The U.S. Treasury has moved Venmo into the debt donation payment channel, after the previously strategic Bitcoin reserve bill stalled.
MarketWhisper2m ago
Ascending Triangle Breakout Loading? Top 5 Altcoins With 5x Upside Potential
Ascending triangles indicate growing buying pressure but need to be confirmed.
Toncoin and Fantom display better trends than others in consolidation.
Overall market conditions still play a crucial role in the success of breakouts.
A common technical pattern has begun to emerge among
CryptoNewsLand11m ago
Crypto Fear and Greed Index Rises to 47, Signaling Neutral Market Sentiment
Gate News message, April 27 — According to Alternative.me, the Crypto Fear and Greed Index stands at 47 today, indicating a neutral market sentiment. The index rose from 33 yesterday (April 26), reflecting a shift toward more balanced market
GateNews1h ago
Whale pension-usdt.eth's $110M Short on BTC and ETH Down $15.25M as April Rally Continues
Gate News message, April 27 — According to on-chain analyst Yujin's monitoring, whale pension-usdt.eth opened a 3x leveraged short position on $110 million worth of BTC and ETH near the start of April, but has since incurred a floating loss of $15.25 million as prices rallied throughout the month.
GateNews1h ago
BNB Price Steady Above $633 as Bulls Face Strong Barriers
Key Insights:
BNB holds above the 50-day EMA near $633, supported by whale activity, while mixed derivatives data keep price action within a consolidation range.
Technical indicators, including RSI and MACD, show mild bullish momentum, though strong resistance levels near $662 and $680
CryptoNewsLand6h ago
Chainlink Price Tightens as $10 Resistance Holds Firm
Key Insights:
Chainlink trades between $8.5 and $10 as a tightening range signals volatility expansion, with buyers showing early strength through higher lows formation.
Open interest drops to $380 million while persistent spot outflows indicate cautious sentiment, though declining selling p
CryptoNewsLand6h ago
