Crypto Prices Jump After US Labor Report Shows Increase in Both Jobs and Unemployment Rate

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

A fact-finding agency says digital asset markets spiked higher late this week following news that the US job market is showing potential signs of recovery after a consensus beat in non-farm employment change.

Data from the Bureau of Labor Statistics (BLS) reveals that 261,000 jobs were added to the US economy in October, 61,000 higher than originally expected.

According to the BLS, notable job gains occurred in health care, professional and technical services, and manufacturing sectors.

The rise in jobs, though better than expected, was well below 2022’s average monthly growth of 407,000 and 2021’s average monthly job surge of 562,000. Unemployment rates also rose 3.7%, 0.1% higher than forecasted.

Crypto markets rallied nonetheless on Friday afternoon, with the total digital asset market cap cracking the $1 trillion level for the first time since mid-September. At time of writing, crypto is at a $1.01 trillion market cap, up 4.4% on the day.

Bitcoin (BTC) and much of the altcoin markets put in sizeable gains, with BTC recording a 5.45% rally on the day. Meanwhile, Ethereum (ETH) is up 7.31% on the day at $1,652, continuing its outperformance of Bitcoin.

Some of the stronger altcoins rallying at the end of the week include Ethereum scaling solution Polygon (MATIC), oracle network Chainlink (LINK), decentralized finance (DeFi) protocol Aave (AAVE) and decentralized exchange Curve DAO (CRV).

The next upcoming piece of economic data that has historically had an impact on the crypto markets is the consumer price index (CPI) reveal, slated for Thursday, November 10th.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/zeber/INelson


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.