Bitcoin slipped below its 50-period EMA, reflecting caution despite dovish monetary policy expectations.
The U.S. economy added just 73,000 jobs in July, falling well short of the 110,000 forecast and signaling a sharp slowdown in the labor market. The report from the Bureau of Labor Statistics (BLS) also included massive downward revisions to the prior two months, cutting a combined 258,000 jobs from May and June’s initial figures.
The unemployment rate ticked up to 4.2% from 4.1% in June, matching estimates.
U.S. Jobs and Unemployment Charts. Source: Bureau of Labor Statistics (BLS)
The July data showed broad weakness in hiring. Private sector payrolls increased by 83,000, while government employment declined by 10,000. Healthcare and social assistance added 73,300 jobs, remaining the primary driver of job growth. Retail employment rose by 15,700, reversing declines in prior months. Meanwhile, leisure and hospitality …
