US unemployment rate jumps to 4.2% as JPMorgan raises 2025 recession odds to 60%
The post US unemployment rate jumps to 4.2% as JPMorgan raises 2025 recession odds to 60% appeared on BitcoinEthereumNews.com.
The unemployment rate in the U.S. just hit 4.2%, up from 4.1% the month before. That’s not what Wall Street wanted to hear. It’s also higher than the 4.1% estimate economists had expected. This data came out Friday from the Bureau of Labor Statistics, and it’s already making markets twitch. But here’s the twist: even with that rise in unemployment, job growth was stronger than anyone predicted. The Labor Department said nonfarm payrolls rose by 228,000 in March. That’s a big jump from 117,000 in February. It also beat the Dow Jones estimate of 140,000. The labor market looks weird right now—strong hiring on one side, rising joblessness on the other. And it all just makes Jerome Powell’s job that much harder. Jerome Powell. Source: Reuters file photo Markets crash as China hits back with tariffs Wall Street is taking punches. On Friday morning, Dow Jones futures dropped 1,200 points, or 3%, before the opening bell. When trading officially opened, the Dow was down nearly 1,500 points. That came right after a brutal 1,679-point drop on Thursday. S&P 500 futures fell 3%, on top of Thursday’s 4.84% crash. Nasdaq 100 futures slipped 2.8%, with big tech names bleeding thanks to their exposure to China. The markets are panicking over a growing trade war, and crypto folks are already sniffing blood in the water. The panic started with tariffs. President Donald Trump announced new tariffs this week, and China fired back fast. Late Thursday, China’s finance ministry said it would slap a 34% tariff on U.S. imports in retaliation. That hit like a freight train. What’s worse? The White House keeps sending mixed signals about whether the new tariffs could be dialed back. One day, it’s negotiable, the next day it’s not. No one knows what Trump is thinking, and that’s…
Filed under: News - @ April 4, 2025 1:25 pm