#美国非农就业数据未达市场预期 The United States added 50,000 new jobs, which indeed fell short of the expected 60,000. The unemployment rate, however, dropped to 4.4%, lower than the anticipated 4.5%. At first glance, the lower-than-expected job growth might seem to create conditions for a rate cut. But here’s the problem—the declining unemployment rate actually indicates a stable job market, which is not conducive to a rate cut. The two indicators are conflicting, and the data itself is quite contradictory. How much can we trust this? Every time the market sees such ambiguous employment data, it takes half a day to speculate on how the Federal Reserve will act, and $BTC$ assets like ETH also fluctuate accordingly. Ultimately, the authenticity and reference value of this kind of data are indeed worth questioning.