In March, more than 900k jobs were added in the U.S., exceeding estimates. The estimated figure was 675,000, while 916,000 jobs were added, edging down the unemployment rate to 6% from 6.2%.
Areas where gains were made, were from leisure and hospitality, public and private education, and construction. The pandemic changed a whole lot about people, business and how the workplace should be handled, bringing about creativity and innovation. Leisure and hospitality sector were hit creating more jobs for the citizen; 280,000 jobs were added.
Macroeconomic uncertainty for the U.S. labour market keeps decreasing with an increase in vaccination rates. Digital assets like bitcoin (BTC) have been making great moves due to high yield inflow from institutions buying assets. The decrease in macroeconomic uncertainty looks favorable for retail investors.
Former SEC Chairman Jay Clayton in an interview with CNBC Squawk Box made it known that bitcoin had the status as a non-security at the SEC but this does not mean it should not be regulated.
Clayton talking about bitcoin, said, “where digital assets land at the end of the day will be driven in part by regulation both domestic and international, and I expect that regulation will come in this area both directly and indirectly.
On record, SEC cracked down on unregistered and fraudulent initial coin offerings under Clayton. Also, SEC refused to approve the application of any bitcoin exchange-traded funds and sued Ripple Labs.