Walls Streets cheers as U.S. adds 147,000 jobs originally appeared on TheStreet.
Job growth in the U.S. pleasantly surprised everyone in June, as 147,000 new jobs were added and the unemployment rate dropped to 4.1%, indicating a robust labor market that might force the Fed to defer its rate cuts to September.
The figures, released Thursday by the Labor Department, included a small upward revision for May’s job gains to 144,000. The Bitcoin rally may be tempered by stronger labor data and ‘too late’ rate cuts, currently sitting at $109,000.
Though job growth exceeded expectations, economists warn that the pace of hiring, overall, is slowing. Many employers still don’t want to convert to layoffs, continuing what began during the Covid labor shortage as labor hoarding, as per Reuters.
Job-era growth continues to be positive, but this morning’s numbers show a more cautious tone amid tightened financial conditions and political uncertainty.
The data comes as the Federal Reserve considers when to resume cutting interest rates. With inflation slowing but running above its target and labor markets remaining solid, markets are now pricing in the possibility that the Fed may not cut rates again until September.
White House Press Secretary Karoline Leavitt said:
"For the FOURTH month in a row, jobs numbers have beat market expectations with nearly 150,000 good jobs created in June. American-born workers have accounted for ALL of the job gains since President Trump took office and wages continue to rise. The economy is BOOMING again and it will only get better when the One, Big Beautiful Bill is passed and implemented!"
Correlation between crypto and labor data
In the past, U.S. labor data have impacted the effect of Bitcoin price changes due to alterations in Fed rate expectations.
Strong Nonfarm Payrolls, have typically strengthened the dollar and bond yields which has typically seen Bitcoin drop in value.
Weak payrolls can cause Bitcoin to rally, as seen in October 2023 when BTC prices increased on the same day by potentially 6% as the markets had grouped in rate cuts.
The unemployment rate decreased to 4% in January, down from 4.1% the previous month, and Bitcoin soon after broke the $100,000 barrier.
Walls Streets cheers as U.S. adds 147,000 jobs first appeared on TheStreet on Jul 3, 2025
This story was originally reported by TheStreet on Jul 3, 2025, where it first appeared.
