- U.S. added 119K jobs in September, more than double expectations.
- Unemployment rate rose to 4.4%, signaling a cooling labor backdrop.
- Bitcoin held steady at $91.9K as markets absorbed the delayed data.
The long-delayed September jobs report normally released in early October, but pushed back six weeks due to the historic government shutdown, showed the U.S. economy added 119,000 jobs, far above economists’ expectations of 50,000.
At the same time, the unemployment rate unexpectedly rose from 4.3% to 4.4%, signaling that the labor market is cooling even as hiring remained stronger than forecast.
The prior month’s data was also revised sharply lower, with August now showing a loss of 4,000 jobs instead of the originally reported gain of 22,000. Together, the numbers paint a mixed picture heading into the end of the year: resilience in hiring, but growing signs of slack that could complicate monetary policy.
Markets Steady as BTC Holds Near $91.9K
Following Nvidia’s strong earnings and upbeat guidance, risk sentiment improved across markets late Thursday. Bitcoin held its modest overnight gains, trading around $91,900, while futures for the Nasdaq jumped nearly 1.9%.
Treasury yields hovered at 4.11%, and the dollar posted small gains as traders digested the fresh economic data.
Despite the hiring beat, markets have already priced out the possibility of a December Fed rate cut, and Thursday’s report is unlikely to change that stance. With no further employment data arriving until mid-December, policymakers will enter their final 2025 meeting with limited visibility — an uncertainty that investors have been reacting to for weeks.
