US jobs revision turns July’s 21,000 gain into a 10,000 loss
Summary
The BLS revised July and August payroll gains down by 60,000, while September payroll growth was just 29,000. Average hourly earnings rose 0.1% monthly and 3.0% annually, below August’s earlier readings. The softer payroll and wage data may weaken the case for further Federal Reserve tightening, which could ease one pressure on Bitcoin and other speculative assets. However, inflation remained above the Fed’s 2% target, and household-survey estimates showed employment and labor-force growth alongside a slight rise in unemployment. The mixed indicators do not establish either a recession or a decisive labor-market rebound.
