The U.S. economy added more jobs than economists expected in December, which could deepen inflation concerns already rattling Bitcoin’s price in recent days.
U.S. employers added 256,000 jobs in December, the Bureau of Labor Statistics (BLS) reported Friday. Economists expected the figure, which measures job creation, to show that 160,000 jobs were added last month, according to Trading Economics.
The Bitcoin price fell following Friday’s print, diving 2.2% to $92,700 from $94,900 in around 10 minutes. Over the past week, Bitcoin’s price has been volatile, trading as high as $102,300 and as low as $91,000, as macroeconomic signals painted a picture of a strong economy.
The BLS said Friday that the unemployment rate ticked down in December to 4.1%, a slight decrease compared to 4.2% in November. Typically, drops in unemployment can contribute to inflation through increased wage growth.
“Good news is bad news,” Tom Dunleavy, a partner at MV Capital, told Decrypt. “Strength in employmen
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Author: André Beganski
