The long-awaited US Job data showed that the nonfarm payroll increased by 228,000 in March, up from 151,000 in the prior month. On the other hand, the US unemployment rate comes in at 4.2%, up from 4.1% recorded in the prior month. This job data has dampened market confidence, hinting towards a potential hawkish stance by the US Fed ahead, which could hinder the Bitcoin and top altcoins prices breakout ahead.
US Job Data: Nonfarm Payrolls & Unemployment Rate Dampens Market Sentiment
The latest US Job data by the Labor Department showed that the nonfarm payrolls increased by 228K in March, up from the prior month’s figure of 151K. On the other hand, the unemployment rate comes in at 4.2%, up from the prior month’s figure of 4.1%. Notably, the metrics have surpassed Wall Street expectations of 140K and 4.1%.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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