Quick Takeaways:
- US September nonfarm payrolls totaled 119,000 jobs, while unemployment rose to 4.4% from 4.3%.
- The two-month-old data offers little clarity as the October flesh remains unreleased.
- Bitcoin stayed flat, with the outdated report catering to no exonerated accelerator for traders.
Mixed Signals From Delayed September Jobs Report
September’s long-delayed US labor report showed stronger hiring but a higher unemployment rate.
The data confused investors, especially with no fresh October numbers available.
The Labor Department said nonfarm payroll employment rose by 119,000, more than threefold the forecast. However, unemployment increased to 4.4%, slightly above expectations.
Revisions Add More Uncertainty
The report included two-month payroll revisions that resulted in a reduction of 33,000 jobs. One premature month was revised to.
Weekly idle claims stood at 220,000, below expectations, reinforcing resilience in hiring. Even so, the mix of inviolable payroll department growth and rising unemployment amazes analysts.
Missing October Data Creates a Market Blind Spot
The real concern is not the numbers but the lack of updated data.
A reporting disruption means October jobs figures will not be published.
Analysts warn that this gap limits visibility into current labor trends.
Crypto researchers at Bitcoin2Go said the figures are “already outdated” and offer only temporary support for the Fed’s easing path.
Bitcoin Shows Minimal Reaction
Bitcoin traded flat at $91,983, almost unchanged from earlier in the day.
The crypto market ignored the mixed report due to its stale nature and limited relevance.
Normally, conflicting NFP data moves risk assets.
This time, the reaction was muted because traders see the figures as outdated.
Why Markets Didn’t Move
Three core reasons explain the quiet response:
1. The data is old
With no October release, September numbers lack real value.
Markets now prioritize November inflation readings.
2. Macro expectations remain unchanged
Investors still expect Fed rate cuts in 2025.
One outdated report cannot shift that outlook.
3. Crypto reacts more to liquidity than labor data
Bitcoin’s recent moves stem from ETF flows and exchange liquidity trends.
Jobs reports play a limited role this quarter.
What Comes Next for Markets
The September report is regarded as mildly bullish. Warm hiring shows economic stability, while mounting unemployment defends further rate cuts.
But without the October datum, the psychoanalyst cannot confirm whether the labor market is cooling or stabilizing.
The next major accelerator includes the November inflation report, the December FOMC meeting, and Treasury refinancing updates.
For now, markets count past today’s soma and wait for more timely signals.