US jobs revision turns July's 21,000 gain into a 10,000 loss
- —The 60,000 downward revision covers July and August estimates, not new September losses
- —July swung from +21,000 to -10,000; August fell from 162,000 to 133,000
- —September payrolls rose 29,000; average hourly earnings up 0.1% m/m and 3.0% y/y
- —August PCE inflation ran at 3.4% y/y, core at 3.0%, both above the Fed's 2% target
Why it matters: A softer labor picture weakens the case for further Fed tightening, potentially easing pressure on Bitcoin and risk assets.
Source: CryptoSlate