April Jobs Growth Slows to 177,000, Unemployment Stable at 4.2%

On May 3rd, the non-farm payroll report revealed that the number of new jobs added in April was 177,000, which was lower than the previous month but higher than anticipated. This indicates a slowdown in employment growth, although not as severe as some market participants had feared. The unemployment rate remained stable at 4.2%, which is still considered high. Average hourly wages increased by 0.2% for the month and 3.8% for the year, signaling a deceleration in wage growth and moderate inflationary pressures.

The data released by the Federal Reserve's FedWatch tool shows that the probability of a rate cut in June has decreased to 50%, reflecting the market's uncertainty about the economic outlook and policy direction. Overall, while the employment data is not particularly concerning, the weak wage growth suggests that the Federal Reserve may continue to adopt a cautious approach. Market volatility has intensified, and Bitcoin is expected to remain in a consolidation phase in the short term.

According to the Bitunix analyst, the data presents a mixed picture, with employment resilience conflicting with the slowdown in wage growth. In the near term, Bitcoin remains constrained by the $97,000 level, and it is crucial to observe whether there is sufficient volume to break through this resistance. If rate cut expectations rise again, it will be important to monitor the trends in the U.S. dollar and interest rates, and adjust positions accordingly. The analyst recommends continuing to monitor the actions of the Federal Open Market Committee (FOMC) and allocating stablecoins or gold to hedge against policy and macroeconomic risks.