Here’s how a weak jobs report could spell gains for crypto
The August jobs report is in, and depending on your perspective, it’s either worrying or the next big catalyst for crypto. While economists were expecting jobless claims of 230,000, the reality arrived at 237,000. Job openings also missed the mark, coming in at 7.18 million versus the projected 7.38 million.
Along with July’s figures, the August jobs report confirms softness in the labor market, which is bad news for the economy but could lead to the keenly-awaited rate cut the crypto industry has been waiting for.
Why a weak jobs report is good news for crypto
So how does a slowing job market translate into crypto optimism? The link lies in the Federal Reserve’s next move. Weaker employment stats put more pressure on the Fed to cut…
