US Jobs Data Shocks Markets, Sending Safe-Haven Assets Soaring

A recent economic data release from the US has caused market expectations to shift. The latest employment figures showed that non-agricultural jobs decreased by 23,000, falling short of the anticipated increase of 80,000.

This unexpected decline in hiring rates has led to a revision downward of the previous month's job growth estimate from 57,000 to 20,000. The average hourly earnings also failed to meet expectations, rising by only 0.1% monthly and 3.2% annually.

The Fed's forecast of raising interest rates in 2026 has been downgraded as a result of the new data. This led to an increase in demand for safe-haven assets such as gold and Bitcoin, while stocks also rose in value.