US adds only 29,000 jobs, unemployment rises to 4.2 percent

In September, the United States added only 29,000 jobs, while economists had expected 90,000. Unemployment unexpectedly rose to 4.2 percent. Analysts expect that these disappointing figures have significantly reduced the likelihood of a new interest rate hike by the US central bank, which could be positive for the crypto market. The chance of an interest rate increase has dropped from about 70 to 14 percent, according to crypto analyst Ash Crypto. He describes this as very positive for crypto. Merlijn The Trader, a Dutch analyst, also states that the higher unemployment removes an important argument for an interest rate hike, thereby reducing pressure on risky investments. However, the crypto analysis platform Coin Bureau warns that weak job numbers are not automatically good news. A further deterioration in the labor market could lead to recession fears, causing investors to take on less risk. Reactions are positive in the short term, but the future depends on economic developments.

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