Bitcoin rises as weak jobs data dims October hike odds

Bitcoin rose above $87,000 after a weaker-than-expected US jobs report reinforced expectations that the Federal Reserve may leave interest rates unchanged in October. US employers added 29,000 jobs in September, far below the 89,000 increase economists had forecast, while the unemployment rate rose to 4.2%, according to data released Friday by the Bureau of Labor Statistics. The report also showed substantial downward revisions to previous months, reducing the combined employment gains for July and August by 60,000. The unemployment rate has remained between 4.1% and 4.3% since March, with 7.1 million people unemployed in September. The labor force participation rate was 61.8%, while the employment-population ratio was 59.2%. Health care led job gains with an increase of 17,000, followed by construction at 11,000 and manufacturing at 9,000. Financial activities lost 7,000 jobs and had declined by 129,000 since May 2025. Wage growth remained steady, with average hourly earnings rising to $37.81, up 3% from a year earlier, while the average workweek held at 34.4 hours. In a comment, Fabian Dori, chief investment officer at Sygnum Bank, said the weak employment reading strengthens the...