U.S. June Nonfarm Payrolls Add Only 57,000, Miss Forecast; Prior Revised Down to 129,000 – Crypto Markets Eye Rate Cut Boost

News Editor

2026-07-02 13:31:25

The U.S. June nonfarm payrolls increased by just 57,000, far below the 110,000 market consensus. The prior month was revised sharply lower from 172,000 to 129,000. The weak data bolsters expectations of a Fed rate cut, which could support risk assets including cryptocurrencies.

The U.S. Bureau of Labor Statistics released the latest employment report for June, showing nonfarm payrolls rose by only 57,000—well below the 110,000 forecast. The prior month's gain was revised down from 172,000 to 129,000, signaling a clearer cooling in the labor market.

Market Implications

The weaker-than-expected payrolls data strengthens the case for a Federal Reserve rate cut later this year. A rate cut is typically bullish for risk assets, including cryptocurrencies. Bitcoin and Ethereum may see short-term support, though traders will also watch upcoming inflation data and Fed commentary.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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