The US Bureau of Labour Statistics reported 336,000 new jobs in September, which substantially exceeded economist expectations of 170,000, as reported by CoinDesk. Additionally, the initial estimate of 187,000 employment gained in August was downgraded to 227,000. In contrast to initial projections of a decrease to 3.7%, the unemployment rate exhibited no change at 3.8%. As a result of the news, the value of bitcoin (BTC) decreased by approximately 1% to $27,530.

The recent decline in government bond prices, which has caused the yield on the 10-year Treasury note to soar from just above 4% to as high as 4.80% earlier this week, has elevated the significance of this month's employment figures. Since September 1, the stock market has been affected by this significant increase in interest rates, with the Nasdaq and S&P 500 both falling by about 6%. Nevertheless, bitcoin has maintained its value, increasing from approximately $26,000 to $27,700 prior to the employment report.

As a result of the report, there was further downward pressure on stock and bond prices. Nasdaq 100 futures experienced a decline of over 1%, while the 10-year Treasury yield increased by eight basis points to slightly below 4.80%. The CME FedWatch tool has increased the probability of a rate rise by the US Federal Reserve at its upcoming policy meeting in November from 24% prior to the employment report to 31% at this time. Additional report information revealed that average hourly earnings increased by 0.2% in September, falling short of expectations for a 0.3% increase and a 0.2% increase in August. The year-over-year increase in average hourly wages was 4.2%, surpassing the anticipated 4.3% and the previous month's figure of 4.3%.

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