The May jobs reading came in well above expectations, signaling stronger-than-forecast U.S. labor market growth in a closely watched macro indicator for risk assets including crypto.
U.S. nonfarm payrolls increased by 172,000 in May, beating the consensus forecast of 85,000. The stronger-than-expected labor market reading is a key macro signal for investors because employment data can influence expectations for Federal Reserve policy and broader risk sentiment across markets, including digital assets.