The U.S. government also reported the unemployment rate fell to 3.4%, below the forecast of 3.6%. The U.S. added 517,000 jobs in January, reported the Bureau of Labor Statistics (BLS), a huge jump from the revised 260,000 in December and massively beating economist forecasts for 185,000. The unemployment rate fell to 3.4% versus 3.5% in December and against forecasts for 3.6%. Average hourly earnings stayed the same in January at 0.3% versus December, with expectations of 0.3%. On a year-over-year basis, average hourly earnings fell 4.4% versus 4.6% in December and expectations for 4.3%. Bitcoin (BTC) fell to $23,379 in the minutes after the news. “This will give the [Federal Reserve] absolutely no reassurance that labor market imbalances â” which have been adding to wage pressures –
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