Sun. Sep 25th, 2022

Bitcoin gained almost 2% on Friday after U.S. Bureau of Labor Statistics reported a 3.7% rise in unemployment rate in August. 

See related article: Bitcoin, crypto market in the green after Fed rate hike

Fast facts

  • The announcement is in line with market expectation, as economists had projected about 300,000 additions and a 3.5% jobless rate, according to a Bloomberg survey.
  • Most of the top 10 cryptocurrencies, including Dogecoin, Solana, and Cardano, traded up after the announcement. 
  • The Labor Department said employers added 315,000 jobs in August on a seasonally adjusted basis, a 40 % drop from July when it reached the pre-Covid19 levels of Feb. 2020, the report said.

See related article: What US Fed’s interest rate hike means for China and its CBDC

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