{"id":14092,"date":"2026-10-05T11:35:45","date_gmt":"2026-10-05T11:35:45","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14092"},"modified":"2026-10-05T11:35:45","modified_gmt":"2026-10-05T11:35:45","slug":"us-payroll-revision-turns-july-job-gain-into-a-loss","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14092","title":{"rendered":"US payroll revision turns July job gain into a loss"},"content":{"rendered":"<p><\/p>\n<div data-cs-editorial-figure-scope=\"\" data-cs-editorial-quote-scope=\"\" data-cs-image-viewer-scope=\"\" data-single-article-content=\"\">\n<p>The US Bureau of Labor Statistics (BLS) revised July and August payroll gains down by 60,000 on Oct. 2, weakening the labor-based case for another Federal Reserve hike and potentially easing one policy pressure on Bitcoin.<\/p>\n<p>The September employment report put payroll growth at 29,000. July\u2019s estimate flipped from 21,000 jobs added to 10,000 lost; August\u2019s fell from 162,000 to 133,000. The 60,000 adjustment revises earlier estimates, rather than identifying new September job losses.<\/p>\n<p>Average hourly earnings for all employees on private nonfarm payrolls rose 0.1% monthly and 3.0% annually, below the 0.3% and 3.1% originally reported for August.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Bitcoin sees big overnight rally as ETF demand returns before the next US jobs test<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>The numbers arrive after the Fed\u2019s Sept. 16 quarter-point hike to a 3.75%\u20134% target range. Its statement said job gains had kept pace with the workforce and inflation remained elevated. Friday\u2019s release gives policymakers a softer payroll picture than the earlier estimates suggested.<\/p>\n<p>Weak hiring and slower reported wage growth provide less support for tightening policy to restrain labor demand.<\/p>\n<p>Inflation still gives the Fed a reason to consider further tightening. August personal consumption expenditures (PCE) inflation, released Sept. 30, ran at 3.4% annually, or 3.0% excluding food and energy. Both exceeded the Fed\u2019s 2% goal.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">US factory costs spike, threatening Bitcoin&#8217;s rally above $85,000<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>For Bitcoin, a softer labor case could reduce the threat of higher discount rates, a potential pressure on speculative assets. A February 2023 New York Fed staff study found Bitcoin largely unresponsive to monetary and macroeconomic surprises in an intraday event study.<\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" data-newsletter-pending-label=\"Joining\u2026\" data-newsletter-pending-status=\"Joining The Catalyst\u2026\" data-newsletter-email-required-message=\"Before sending, please provide your email address.\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\"> <i class=\"fa-regular fa-envelope\" aria-hidden=\"true\"\/> The Catalyst <\/span><\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">What\u2019s moving crypto. Why it matters.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Get CryptoSlate\u2019s essential stories and what to watch next.<\/p>\n<p>  <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" fill=\"currentColor\" viewbox=\"0 0 16 16\" aria-hidden=\"true\" focusable=\"false\"> <path d=\"M15 3.604H1v1.891h14v-1.89ZM1 7.208V16l7-3.926L15 16V7.208zM15 0H1v1.89h14z\"\/> <\/svg> <span>Published on Substack<\/span> <\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p id=\"cs-inline-newsletter-1-privacy\" class=\"cs-inline-newsletter__privacy\">Seven days a week. Unsubscribe anytime.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<div class=\"cs-inline-newsletter__success\" role=\"status\" aria-live=\"polite\" aria-atomic=\"true\" tabindex=\"-1\"> <span class=\"cs-inline-newsletter__success-icon\" aria-hidden=\"true\"\/><\/p>\n<div>\n<h3 class=\"cs-inline-newsletter__success-title\">Check your inbox.<\/h3>\n<p class=\"cs-inline-newsletter__success-copy\">Your signup request was sent. If confirmation is required, follow the email from Substack.<\/p>\n<p class=\"cs-inline-newsletter__success-hint\">Look in spam or promotions if you don\u2019t see it.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p>The separate household survey offered a different picture. Employment rose an estimated 406,000, participation moved from 61.6% to 61.8%, and unemployment edged from 4.1% to 4.2%. The labor force grew by 485,000, allowing employment and unemployment to rise together.<\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter shoggoth-infographic shoggoth-infographic-portrait wp-image-569070\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f.png\" alt=\"BLS September 2026 jobs release: July payroll growth revised from plus 21,000 to minus 10,000 and August from plus 162,000 to plus 133,000, a combined minus 60,000 revision; September payroll growth plus 29,000. The separate household employment estimate rose 406,000, below the approximate 650,000 significance threshold.\" width=\"720\" height=\"900\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f.png 1122w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f-240x300.png 240w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f-819x1024.png 819w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f-768x960.png 768w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\"\/><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"lazyload aligncenter shoggoth-infographic shoggoth-infographic-portrait wp-image-569070\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f.png\" alt=\"BLS September 2026 jobs release: July payroll growth revised from plus 21,000 to minus 10,000 and August from plus 162,000 to plus 133,000, a combined minus 60,000 revision; September payroll growth plus 29,000. The separate household employment estimate rose 406,000, below the approximate 650,000 significance threshold.\" width=\"720\" height=\"900\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f.png 1122w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f-240x300.png 240w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f-819x1024.png 819w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-34ea4f16-7808-4553-abad-9121996a858f-768x960.png 768w\" data-sizes=\"(max-width: 720px) 100vw, 720px\"\/><\/p>\n<p>These figures count people, while payrolls count jobs. The household survey also covers workers excluded from payroll data. September\u2019s monthly employment changes were below BLS\u2019s approximate significance thresholds of 650,000 for households and 122,000 for payrolls.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Bitcoin drops to $82,000 on US data, and inflation fear is blamed<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>The mixed picture limits both a recession declaration and a claim of a decisive employment rebound. Weaker payrolls offer a reason to question further tightening, while the household figures complicate treating the report as evidence of an employment slump.<\/p>\n<p>Stronger subsequent inflation or hiring would weaken that interpretation. The next jobs release is scheduled for Nov. 6.<\/p>\n<\/div>\n<p>Analysis,Featured,Macro,Bitcoin,BTCBitcoin,BTC#payroll #revision #turns #July #job #gain #loss1791200145<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Bureau of Labor Statistics (BLS) revised July and August payroll gains down by 60,000 on Oct. 2, weakening the labor-based case for another Federal Reserve hike and potentially easing one policy pressure on Bitcoin. The September employment report put payroll growth at 29,000. July\u2019s estimate flipped from 21,000 jobs added to 10,000 lost;<\/p>\n","protected":false},"author":1,"featured_media":14093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[91,285,2845,4747,4679,2388,7264,6742,912],"class_list":["post-14092","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-bitcoin","tag-btc","tag-gain","tag-job","tag-july","tag-loss","tag-payroll","tag-revision","tag-turns"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US payroll revision turns July job gain into a loss - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"US payroll estimates were revised down 60,000 for July and August. 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