#密码资产动态追踪 The latest December employment data released by the U.S. Bureau of Labor Statistics has attracted market attention. The number of new jobs added was only 50,000, far below the expected 60,000. Although the unemployment rate slightly decreased to 4.4%, this figure masks the rapid deterioration of the labor market. Notably, November's data was significantly revised downward to 56,000 from the initial figure of 64,000—this "data shrinkage" reflects that the U.S. employment situation is more severe than official claims.

Federal department layoffs combined with slowing private sector hiring are exerting dual pressure, dragging down the entire employment market. This also explains why the Federal Reserve has kept interest rates unchanged for the past three months, maintaining the benchmark rate at 3.5%-3.75%, the lowest in three years. Powell previously stated that borrowing costs are "in a good position," implying no rush to cut rates, but the weak December data could disrupt the Fed's pace.
More interestingly, Powell himself has expressed doubts about the Bureau of Labor Statistics data, suggesting that actual monthly new employment might be 60,000 fewer than reported. In other words, the real employment situation could be worse than it appears. These economic changes often impact risk appetite in capital markets and warrant ongoing attention from market participants.