Analysis: US adds 29,000 jobs in September as Bitcoin and gold rise

US employers added 29,000 jobs in September, 61,000 fewer than the 90,000 economists expected. The Bureau of Labor Statistics released the figures at 8:30 a.m. ET on Friday. The unemployment rate rose to 4.2%, compared with economists’ forecast of 4.1%. Employers added 162,000 jobs in August, according to the first estimate. The Bureau of Labor Statistics said hiring "changed little" in every major industry. Gold climbed from about $4,178 an ounce to $4,227 within minutes of the jobs report, according to TradingView data. Bitcoin rose from about $86,450 to nearly $87,230. Bitcoin last traded at $86,767, up 3.48% in a day. Bitcoin and gold had also risen within minutes of Wednesday’s release of a US inflation measure that cooled to 3.4%. CoinGlass data shows $32.51 million in crypto trading positions were liquidated in the past hour. About $27.53 million of those positions were bets that prices would fall. Bitcoin positions accounted for $20.5 million of the losses. The Federal Reserve raised interest rates in September. J.P. Morgan still expects another rate increase in December. The 10-year Treasury yield reached a 24-year high this week. The weak jobs figures add to the economic data facing the Federal Reserve ahead of its December decision.