The U.S. added 52,000 jobs in June, according to the government’s Nonfarm Payrolls Report. Economists’ forecasts had been for 110,000 and May’s gain was 129,000, down from the 172,000 originally reported.
However, the unemployment rate fell to 4.2% against forecasts that it would remain flat at 4.3%. This decrease occurred alongside a significant drop in the labor force participation rate to 61.5% from 61.8%.
Up sharply ahead of the data, bitcoin remained at 61,300 immediately after the report, up about 4% over the past 24 hours.
Futures on US stock indices rose after the soft print, the Nasdaq rose by 0.7 per cent. The 10-year Treasury yield fell about four basis points to 4.46% and the 2-year yield fell five basis points.
