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BREAKING: US Labor Data for February
US Nonfarm Payrolls decreased by 92,000 MoM, well below the estimate of +59,000. Meanwhile, the unemployment rate rose to 4.4% from the forecasted 4.3%.
On the other hand, average hourly earnings increased by 0.4% MoM (above the estimate of 0.3%) and 3.8% YoY (above the estimate of 3.7%).
Conclusion: The US labor market shows signs of weakening in employment absorption, but wage growth remains strong.
Crypto & risk assets: could be bullish because weak data increases the chances of The Fed lowering interest rates more quickly.