In April, the U.S. saw job growth of 177K, surpassing forecasts.

In a positive sign for the U.S. economy, the country added 177,000 jobs in April, surpassing expectations and showcasing continued strength in the labor market despite broader concerns. According to the latest Bureau of Labor Statistics report, analysts had expected a gain of about 130,000 jobs, making the actual result a significant surprise.

The unemployment rate for April remained unchanged at 4.2%, aligning with forecasts and continuing the trend of stability seen in the previous months.

Following the announcement, Bitcoin’s price experienced a slight drop, retreating to $96,800, after reaching near-record highs earlier in the week. The dip comes as traders reassess expectations for Federal Reserve actions, with stronger-than-expected jobs data reducing the likelihood of an imminent rate cut. Despite the minor pullback, Bitcoin remains well above the $90,000 threshold, reflecting its ongoing upward trend in early 2025.

In contrast, U.S. stock markets responded positively to the robust employment numbers. Both Nasdaq and S&P 500 futures jumped by approximately 0.8% in early trading, buoyed by the strength in job creation.

The jobs report further signals to markets that the Federal Reserve may hold off on rate cuts in the short term. Market participants had previously priced in a 60% chance of a rate cut in June, but today’s data could cause that probability to shift, with traders now anticipating a longer wait before monetary policy changes.

In the bond market, the U.S. 10-year Treasury yield rose by 5 basis points, reaching 4.28% in response to the stronger-than-expected jobs report. The rise in bond yields indicates that investors are recalibrating their expectations for interest rates in light of the latest data.

Other notable points from the report include average hourly earnings, which increased by 0.2% in April, matching the previous month’s growth rate, but slightly missing the forecasted 0.3% increase. Year-over-year, wages have risen by 3.8%, showing steady growth in earnings but coming in just shy of the 3.9% expected by economists.