July Jobs Report Sends Fed Expectations Into Chaos, Can Crypto Capitalize?
The July jobs report shows up to 23,000 lost jobs instead of gaining the 80,000 forecast, and revisions erased another 103,000. Federal Reserve rate bets flipped within minutes of Friday's release.
Bitcoin (BTC) climbed on the news. The unemployment rate fell to 4.1%, but for an uncomfortable reason. People stopped looking for work.
July Jobs Report Revisions Deepen the Shock
The headline number was bad. The fine print was worse. The Bureau of Labor Statistics report cut May's gain to 63,000 and June's to just 20,000. That quiet markdown wiped out 103,000 jobs.
Hiring was already thin before July. Payrolls averaged gains of just 34,000 a month over the past year. July snapped even that weak streak.
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