U.S. added just 29,000 jobs in September, with unemployment rate rising to 4.2%
Bitcoin held earlier gains following the report, up more than 2% over the past 24 hours and just below $87,000.
Source: CoinDesk
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DW NOTE
The Fed raised rates to 3.75%-4.00% on September 23. Thirteen days later, job growth collapsed to 29,000 and wage growth fell to 0.1% monthly. That's not a soft landing — that's what happens when you tighten into a supply shock while the Strait of Hormuz has been closed for seven months.