The solid strength in the US labor market continued in February, although the unemployment rate increased more.
Non -agricultural payroll increased 151,000 last month, the Office of Labor Statistics reported Friday morning. Economist forecasts had been for a gain of 160,000. January payroll growth was checked lower than 125,000 compared to the originally reported 143,000.
The February unemployment rate was 4.1% compared to forecasts for 4.0% and 4.0% in January.
See great price changes (mainly in the inconvenience) during the last weeks for any number of reasons: tariff threats, stock market sets and the idea of a strategic reserve of the United States. The S&P 500 was also obtained a little higher prior to the market, while the performance of the United States Treasury at 10 years fell 3 basic points to 4.24%. The US dollar index (DXY) dropped to its weakest level since the beginning of November before grinding more.
While cryptocurrencies moved slightly higher after the report, the market “has more movement possibilities” based on the results of the Cryptographic Summit of the White House today, “said Paul Howard, senior director of the Wincent cryptocurrency trade firm And BTC continues to float between $ 85-95K over the weekend, “Howard added.
Due in part to the macro nervous developments of the last time, the market participants had previously ruled out the possibilities of more rates cuts in 2025, the probabilities of a Fed rate cut to almost 50% in May and from one or more feat cuts in June to almost 90% had increased.
In fact, a Challenger report on Thursday showed that employers based in the United States announced 172,000 employment cuts last month, the highest reading since July 2020, probably driven by the dismissals of the efficiency actions of the Efficiency Department of the Government of Elon Musk. Meanwhile, the GDPnow model of the Atlantic Federal Reserve Bank predicts that the United States economy is reduced from 2.4% in the first quarter of 2025, a marked contrast with the estimates of analysts of a growth of more than 2%.
However, an economic deceleration could put the Fed in a difficult situation, feeling the need to relieve monetary policy to support growth, even when inflation remains thirdly cheerful, with the title rate year after year in January to 3% and the central rate of 3.3%.
Update (March 7, 13:55 UTC): Update Bitcoin, traditional market action after the report.
Update (March 7, 14:13 UTC): Add the analyst comment.
