Unemployment Rate Holds At 4.2%

By: bitcoin ethereum news|2025/05/02 22:00:04
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Topline The labor market showed signs of steadiness in April as the U.S. added more jobs than expected, according to a Bureau of Labor Statistics report out Friday morning, as the economy walks the recession tightrope. Goldman Sachs forecasts unemployment will spike to 4.7% by year’s end, the highest level since ... More September 2021. Key Facts The U.S. added 177,000 non-farm jobs from March to April, the Labor Department said. Economists expected job growth of 133,000, according to median forecasts compiled by Dow Jones. The unemployment rate was 4.2% last month, meeting projections of 4.2%, where it stood last month. But the Labor Department revised down February and March job growth by 15,000 and 43,000, respectively, equating to 58,000 fewer positions added than previously reported. “Employment strong,” President Donald Trump celebrated in a post to his Truth Social platform following the release. Crucial Quote “No signs of tariff stress in the labor market yet—strong hiring and stable wages,” Jamie Cox, managing partner for Harris Financial Group, wrote in emailed comments. Big Number $36.06. That was the average hourly earnings for non-farm American workers in April, a new record. Wages grew 3.8% year-over-year, outpacing both of the most commonly cited measures of inflation, a sign of strength for consumers’ spending power. Key Background A handful of companies have announced layoffs tied to tariffs, including automakers General Motors and Stellantis, while delivery giant UPS said this week it expects to cut 20,000 positions this year. There were about 603,000 announced layoffs through 2025’s first five months, a year-over-year increase of 87%, according to job placement firm Challenger, Gray & Christmas. Challenger traces about 48% of 2025’s job cuts to the Department of Government Efficiency (DOGE), the Elon Musk-led White House division reshaping the federal government. Economists largely view whether the U.S. enters a recession this year as a tossup. Gross domestic product, the most comprehensive measure of economic activity, registered its worst reading since early 2022 during the first quarter, shrinking 0.3%. What To Watch For Whether recession angst results in labor market deterioration. Goldman Sachs forecasts the unemployment rate will end 2025 at 4.7%. That would be the highest jobless rate since September 2021. Excluding the 2020-21 spike, the unemployment rate had not been 4.7% or higher since January 2017, the first month of Trump’s initial stint in the Oval Office. Further Reading Forbes Tariff Layoff Tracker: Mack Trucks, Volvo Cut Hundreds Of Jobs As Trump’s Levies Pose ‘Market Uncertainty’ By Ty Roush Forbes DOGE Accounts For Nearly Half Of All 2025 Layoffs, Report Finds By Molly Bohannon Source: https://www.forbes.com/sites/dereksaul/2025/05/02/us-added-177000-jobs-in-april-as-unemployment-rate-holds-at-42/

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.


Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.


Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps


Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.


The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position


The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.


Social-Native Trading: Strategy and Execution Completed in the Same Context


Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying


On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.


By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.


Referral Mechanism: Non-institutional users can receive up to 60% fee split


Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings


This model aims to drive user-driven network expansion and organic growth.


Self-Custody Architecture and Built-in Privacy Mechanism


Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:


· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure


The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.


A New Path for On-Chain Derivatives


Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.


The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.


Regulatory Background


Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.


This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."


The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.


About Mixin


Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.


Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication


Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.


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