HelpWanted.com

US jobs increase while Bitcoin declines

US jobs increase while Bitcoin declines
The most well-known cryptocurrency, Bitcoin (BTC), is still having bad luck. The price of Bitcoin has decreased in the cryptocurrency market, which is further negative news for the Bitcoin community. It corresponds with the excellent news that the US jobs report has improved significantly recently, albeit in a paradoxical way.

According to a study by the US Bureau of Labor Statistics, the number of people employed on nonfarm payrolls increased by 528,000 in July of this year, and the unemployment rate decreased slightly to 3.5 per cent. There has been widespread employment growth, with increases in leisure and hospitality, professional and commercial services, and health care taking the lead. 

The notion that the increase in jobs will spur the US Federal Reserve to keep raising interest rates damaged Bitcoin the most, despite the belief having strong economic grounds. The robust employment market in the US undercuts the currently popular assumption that the recession is a hiring brake.

In reaction to the statement made by Federal Reserve Chair Jerome Powell that there is a possibility that the Fed will go slowly with monetary tightening for the remainder of 2022, BTC had increased by 8% and Bitcoin trading moved in the band of US$22,600-US$24,500. After that, however, James Bullard, the president of the St. Louis Federal Reserve, made a statement indicating that the US central bank may opt for an extra 1.5 percentage point hike in interest rates before the end of the year.

The perplexing situation has directly affected Bitcoin's prospects, forcing it to see a price decline in the extremely unpredictable cryptocurrency market. After the US jobs report was released, Bitcoin prices dropped on above-average volume by over 2%.

Source - Analytics Insight 
Tags In
Legal Hiring Jobs UPSC Corruption Paralympics Initiative

Previous days news

Aug 8 Aug 1 Jul 20 Jul 18 Jul 15

You might also like

Best tech jobs in the United States : BLS data

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Others news
Category
Tags
Hospitality Management Jobs In Kerala Employees Jobless Rate UPSSSC Freshers In India Layoffs At Wipro Nagpur Jobs Education Sector Bengaluru Gujarat Govt Aviation In India COVID19 Jobs Hair Industry Campus Recruitment Industrial Workers Animation Jobs Bank Privatisation Athlete Jobs Maruti-Suzuki Banking Hiring Armed Forces Paramedical Professionals Healthcare Jobs Digital India Indian Startups Indian Youth Sector Investment Civil Services Non Farm Industries Energy Jobs Recruitment In India Bankers Pandemic Blue-collar Jobs Bank Exams Mahindra Science PLI Soft Skills For Kids Parliament Teaching Jobs Lockdown In India Paid Internships Rural Unemployment Rate Unemployment In Haryana Data Visualisation Jobs TN Jobs Labor Job Unemployment Rate I
Articles

With Manufacturing Jobs Returning to America, What Does It Mean for Manufacturing Job Seekers?

Reshoring is on its way for the US, due to the ongoing COVID-19 crisis, especially for the tech man ...Read more

Effective Ways to Stay Productive While Telecommuting

Remote working is not a new thing in the US but a lifesaver in the current situation when social di ...Read more

Here Is How to Answer These 5 Tricky HR Questions

During an interview, you’re not only asked questions according to your credibility and qualificatio ...Read more

What Are the Costs to Consider While Planning A Recruitment Budget?

If your organization is on a hiring spree too, one of the key things to consider is the recruitment ...Read more