{"id":20599,"date":"2025-04-04T12:46:49","date_gmt":"2025-04-04T12:46:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20599"},"modified":"2025-04-04T12:46:49","modified_gmt":"2025-04-04T12:46:49","slug":"u-s-march-jobs-growth-of-228k-blows-through-135k-forecast","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20599","title":{"rendered":"U.S. March Jobs Growth of 228K Blows Through 135K Forecast"},"content":{"rendered":"
\n

The U.S. employment situation continued to roll along in strong fashion in March, adding another piece to the puzzle as the Federal Reserve contemplates the path of short-term interest rates in a world that’s markedly changed in the last 48 hours.<\/p>\n

Nonfarm payrolls rose by 228,000 last month, the Bureau of Labor Statistics reported Friday morning. Economists had expected a gain of just 135,000 following February\u2019s increase of 117,000 jobs (revised from an originally reported 151,000).<\/p>\n

The unemployment rate for March, however, rose a tick to 4.2% against economist consensus of 4.1% and February’s 4.1%.<\/p>\n

The price of bitcoin (BTC) was little-changed in the minutes following the report at $82,600.<\/p>\n

Ahead of the jobs report, the CME FedWatch Tool<\/a> \u2014 which gauges market expectations for Federal Reserve policy \u2014 had priced in four rate cuts for 2025, which would bring the federal funds rate down to a target range of 3.25%\u20133.50%. While the Fed is still expected to hold rates steady at its May meeting, market participants are increasingly betting on a cut in June, with current odds showing a 60% probability.<\/p>\n

All this comes, of course, as Trump’s Wednesday evening tariff announcements threw markets into an historic tizzy. The Nasdaq plunged 6% on Thursday and the S&P 500 just shy of 5%. Hopes for some sort of Friday bounce were dashed a few hours ago when China announced retaliatory tariffs. Prior to the jobs data, Nasdaq and S&P futures were pointing to opening declines of around 3%.<\/p>\n

Bitcoin added to list of safe havens?<\/h5>\n

To no surprise, gold is among the assets where investors have been hiding out. Though it’s down a bit since the tariff announcement, it remains very close to its record high of around $3,200 per ounce. Also to no surprise, U.S. Treasury bonds have seen a strong bid, with the yield on the 10-year tumbling to 3.89% just ahead of this morning’s jobs news, now lower by nearly 100 basis points since Trump’s inauguration. <\/p>\n

Bitcoin bulls may have been disappointed by the crypto’s behavior over the past weeks, with the price seemingly moving tick for tick with the struggling Nasdaq. Signs of a decoupling may be emerging though. Bitcoin on Thursday managed to hold the $80,000 level even as the Nasdaq tumbled throughout the day. Prior to this morning’s numbers, BTC was roughly flat in the $82,000 area even as futures pointed to a continuation of the Nasdaq plunge.<\/p>\n

Next up is March inflation data to be reported next week, with both core and headline CPI still seen hovering around 3%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. employment situation continued to roll along in strong fashion in March, adding another piece to the puzzle as the Federal Reserve contemplates the path of short-term interest rates in a world that’s markedly changed in the last 48 hours. Nonfarm payrolls rose by 228,000 last month, the Bureau of Labor Statistics reported Friday […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20599","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20599"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20599\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}