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US Jobs Report: Strong Payrolls Could Trigger Market Sell-Off
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
The U.S. August jobs report is due today, with markets expecting 55,000 new payrolls and a 4.1% unemployment rate. A stronger-than-expected report could pressure markets by increasing expectations for a September Fed rate hike, especially after hawkish comments from Kevin Warsh. A weaker payroll figure or higher unemployment could instead boost markets by reducing rate-hike expectations. Investors will also watch revisions, after May and June payrolls were already revised down by a combined 103,000 jobs.
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