Unemployment Rate FELL, But why is the market going DOWN too??

[Hydrogen]

The unemployment rate, touted by the media. Doesn't include a number of unemployed who gave up searching for a job. There is an official term for unemployed no longer seeking a job, can't remember exactly what it is. Its something like demoralized unemployed or something like that.

To find the true unemployment rate, you have to search for something called the underemployment rate. Which includes the number of unemployed who are not currently searching for work.

It is possible for the unemployment rate to decline on fewer unemployed actively searching for jobs. Under conditions where the market will continue to decline.

It is also possible that stimulus checks and under the table work paid in cash are on the rise. Which could allow many unemployed to still earn income and not be counted on official statistics.

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[el kaka22]

The biggest reason is the time it takes to recover. Sure there are more people employed right now because money is worthless and you could pay a lot to a salary and get a lot more people to grow your business right now when you have basically free money.

Getting a loan right now to grow your business bigger is a simple step, getting any loan right now is easy, many people took huge loans (business owners mostly) because they wanted to grow, and inflation helped them because while the debt stayed the same, the amount they made grew exponentially due to inflation. But to see that on the market will take time, and that’s why it’s not shown at the markets just yet, but it will be seen eventually.

[Fortify]

Hello guys,

Yesterday, October 7 at 12.30 (GMT Time), the US government announced that the unemployment rate had fallen to 3.5% from 3.7% in the previous month.

And that's good news, because it signals that the economy is getting better, with lots of job openings.

But why is the market responding negatively? because when the news was announced, a few minutes later the price of BTC actually dropped by about 3%

There is a lot of weirdness going on in the economy right now and it does feel like the post-Covid bounce is now on it's way out. There is always that point where you at the top of the market and everything looks wonderful, but quite simply wages are not moving up fast enough to wipe out the effects of higher inflation. While we are at peak employment it looks good, but it can also unravel as quickly as it spiked up. We're actually starting to see the number of job openings start to fall as employers get more skeptical about the future and try to rein in their hiring budgets. The next step will be consumers running out of juice due to mortgage and energy costs, then the cutbacks start to ripple throughout the economy into all areas.

[wiss19]

I think you assume that more jobs have opened lately? But, what if not and what if there are already opened jobs even before but people are just lazy to apply on them but now they feel motivated to work again and that is why we think the unemployment rates have declined but indeed it's still a good news because those people can now help themselves and the people around them.

They don't need to depend on their family, friends or relatives anymore to be able to feed themselves but I don't know if what is the connect of this to the crypto market but maybe it helps the economy of ones country because there will now be an increase in the demand of the goods and other services.