The US labor market added 189,000 jobs in January, exceeding consensus estimates of 175,000. The unemployment rate edged down to 4.1% from 4.2%, while average hourly earnings rose 0.5% month-over-month. The data suggested a resilient labor market that reduced pressure on the Fed to cut rates aggressively. Crypto markets dipped slightly on the news as expectations for near-term rate cuts were pushed further out.
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