#非农数据超预期 | Market Calm Interpretation Under Divergence Data

The latest non-farm payroll data shows a "strong but slowing" structural signal:
In November, 64,000 new jobs were added, exceeding market expectations; but the unemployment rate rose to 4.6%, and October employment data was significantly revised downward by 105,000, marking the largest revision since the pandemic. Beneath the apparent prosperity, details are changing.

📊 My core interpretation:

Employment is still expanding, indicating economic resilience remains

Rising unemployment + downward revision of historical data reflect marginal cooling in the labor market

Wage growth is slowing, further controlling inflationary pressures

This set of "divergence data" is not purely bearish or bullish but more like a necessary phase in a soft landing path. As some institutions point out, short-term factors cause obvious data disturbances, and the true trend still requires subsequent data verification.

🏦 Impact on Federal Reserve Policy:
The current data structure is highly consistent with the "gradual easing" logic, further reinforcing market expectations for future policy adjustments, but the likelihood of preemptive action still depends on the continuity of data in the coming months, not a single result.

💡 Insights for the Cryptocurrency Market:

Marginal easing of tightening concerns

Improved liquidity expectations

Support for risk asset sentiment

Against the backdrop of decreasing macro uncertainty, the market is more focused on trend confirmation rather than emotional volatility. Short-term noise exists, but the mid-term logic is gradually becoming clearer.

🧭 My view:
This is more like "noise in the early stages of trend formation" rather than a directional reversal. Rational interpretation of data structure is more important than chasing a single number.

💬 Do you think this is a trend signal or short-term noise? Will the Federal Reserve act early? Feel free to share your thoughts.