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U.S. Added 139K Jobs in May, Roughly In Line With Forecasts
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James Van Straten
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By James Van Straten, AI Boost, Stephen Alpher|Edited by Stephen Alpher
Updated Jun 6, 2025, 12:46 p.m. Published Jun 6, 2025, 12:35 p.m.
- The government reported U.S. job growth of 139,000 in May, about in line with forecasts.
- The unemployment rate remained steady at 4.2%.
- Already higher ahead of the report, bitcoin added a bit further to gains, rising above $104,000.
U.S. labor market growth continued to modestly slow in May, but not enough to force a rise in the unemployment rate.
STORY CONTINUES BELOW
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Nonfarm payrolls grew 139,000 last month, according to the a report Friday from the Bureau of Labor Statistics. Economist forecasts called for gains of 130,000 and April’s job growth was 147,000 (revised from an originally reported 177,000).
The unemployment rate for May was 4.2% against expectations for 4.2% and April’s 4.2%.
In the midst of a strong rebound following yesterday’s sharp declines, the price of bitcoin
rose a small bit further following the news to just above $104,000.
Always a closely-followed print, the May payrolls data was of particular import this time around as a string of economic reports this week pointed to growing economic weakness. Among them were the slowest ADP jobs growth in more than two years, ISM Services slipping into levels suggesting economic contraction and a rise in initial jobless claims to the highest level since October.
Nearing 4.50% as the week began, the 10-year U.S. Treasury yield slipped to as low as 4.32% and the odds of a summer Fed rate cut(s) had risen appreciably ahead of this morning’s report. In the minutes after the print, the 10-year yield shot back up to 4.44% and the odds of a July Fed rate cut tumbled to just 16% from 30%, according to CME FedWatch.
Looking further out, the odds of one or more rate cuts by the Fed’s September meeting fell to 65% from 75%.
U.S. stock index futures added to earlier gains, the Nasdaq ahead 0.8% and S&P 500 0.75%.
Checking other report details, average hourly earnings rose 0.4% in May against estimates for 0.3% and April’s 0.2%. On a year-over-year basis, average hourly earnings were higher by 3.9% versus forecasts for 3.7% and April’s 3.9%.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
Stephen is CoinDesk’s managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania’s Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
