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Stay Tuned with MEXC Global
The US continued to add more new jobs in December than was anticipated, according to the Bureau of Labor Statistics. According to the jobs data, the unemployment rate is at an all-time low. More specifically, with 223,000 new jobs added in December, the unemployment rate dropped from 3.7% to 3.5% in comparison to the previous month. This is greater than the 200,000 that Bloomberg predicted. I'll discuss how the price of Bitcoin is impacted by the good news in this piece.
Unemployment rate & nonfarm payroll employment (Source: U.S. Bureau of Labor Statistics)
In total, the US created 4.5 million new jobs in 2022, which was only slightly less than the performance in 2021, when the country was just starting to recover from the crisis brought on by COVID-19. The best month for job creation in 2022 was February, adding roughly 700,000 new positions, while December came in last despite exceeding forecasts.
The report became available on January 6th. Soon later, the cost of bitcoin soared toward $17,000. At the time of writing, BTC spot price on MEXC Global is at $16,950.95, up 0.71% in the previous day. The encouraging news from the employment report affects the bitcoin market and other investments favorably, but it doesn't correlate as clearly and immediately as statistics from the Consumer Price Index (CPI). One of the direct measures that shows inflation level is the latter.
Final Thoughts
Can the US avert a recession as the most powerful economy in the world that is outperforming expectations? Will investors' faith in the market return? MEXC is eager to learn the solutions. In any case, the crypto winter brings with it investment opportunities. Additionally, before trading, don't forget to conduct your own study.
The US continued to add more new jobs in December than was anticipated, according to the Bureau of Labor Statistics. According to the jobs data, the unemployment rate is at an all-time low. More specifically, with 223,000 new jobs added in December, the unemployment rate dropped from 3.7% to 3.5% in comparison to the previous month. This is greater than the 200,000 that Bloomberg predicted. I'll discuss how the price of Bitcoin is impacted by the good news in this piece.
Unemployment rate & nonfarm payroll employment (Source: U.S. Bureau of Labor Statistics)
In total, the US created 4.5 million new jobs in 2022, which was only slightly less than the performance in 2021, when the country was just starting to recover from the crisis brought on by COVID-19. The best month for job creation in 2022 was February, adding roughly 700,000 new positions, while December came in last despite exceeding forecasts.
The report became available on January 6th. Soon later, the cost of bitcoin soared toward $17,000. At the time of writing, BTC spot price on MEXC Global is at $16,950.95, up 0.71% in the previous day. The encouraging news from the employment report affects the bitcoin market and other investments favorably, but it doesn't correlate as clearly and immediately as statistics from the Consumer Price Index (CPI). One of the direct measures that shows inflation level is the latter.
Final Thoughts
Can the US avert a recession as the most powerful economy in the world that is outperforming expectations? Will investors' faith in the market return? MEXC is eager to learn the solutions. In any case, the crypto winter brings with it investment opportunities. Additionally, before trading, don't forget to conduct your own study.
