Unemployment data hits a new low in April: Underlying currents in the US labor market

【Blockchain Rhythm】What is the current state of the US labor market? According to the latest data from the Department of Labor, as of the week ending January 10, initial unemployment claims in the US decreased by 9,000 week-on-week to 198,000, hitting a new low since November last year. This figure was unexpected by most economists — the market had anticipated higher numbers.

Behind these seemingly optimistic figures, there are actually other nuances. Institutional analysts point out that seasonal fluctuations from the year-end holidays and the beginning of the new year are still affecting the statistics, so this “low” may not necessarily reflect genuine employment improvement. Looking deeper, the overall pace of the labor market is actually quite steady — layoffs are indeed restrained, but hiring has also not picked up, and the market remains in a relatively cautious wait-and-see period.

For crypto asset allocators, changes in such economic data directly impact the valuation logic of risk assets. The combination of stable unemployment data and weak hiring momentum suggests doubts about economic growth drivers, and the Federal Reserve’s policy space and market risk appetite should continue to be closely monitored.