US Job Data Surge May Impact Crypto Market Volatility
- Initial jobless claims rose to 242,000 for the week ending February 22, the highest in 2023.
- This increase exceeded analysts’ forecasts of 225,000 claims.
- Washington, D.C. saw a 26% rise in unemployment claims to 2,047.
- Massachusetts experienced an increase of 3,731 claims to a total of 9,179.
- Rhode Island’s unemployment filings surged by over 200% to reach 2,964.
The recent spike in jobless claims suggests a weakening labor market which could influence Federal Reserve interest rate decisions and potentially increase volatility in the crypto market.
Source (2.6)https://coingape.com/can-crypto-market-crash-again-after-us-job-data-this-week/?rand=24432
