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Headline : Bitcoin jumps following softer-than-expected U.S. jobs report

Read more from the original article on here at www.investing.com.





Tags : #bitcoin #jumps #following #softerthanexpected #us #jobs #report


No. of Paragraph 6

Investing.com -- The price of Bitcoin surged in the wake of a weaker than anticipated April U.S. jobs market report, as investors calibrated their bets for possible Federal Reserve interest rate cuts this year.

According to the Labor Department's closely-monitored labor market report, nonfarm payrolls came in at 175,000 last month, down from an upwardly revised total of 315,000 in March. Economists had predicted a reading of 238,000.

Meanwhile, the unemployment rate was 3.9%, accelerating slightly from 3.8% in the prior month. The figure was projected to equal March's pace. However, it marked the 27th consecutive month that the jobless rate has been below 4%.

Growth in average hourly wages also registered 0.2% month-on-month, slowing from 0.3% in March. The number was estimated to be in line with the previous month.

Read more from the original article on here at www.investing.com.


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