The U.S. government has resumed operations after the shutdown, and the first thing it released was the non-farm payroll report for November 2025. The report stated that there was an increase of 64,000 jobs after a decrease of 105,000 in October, which means the market is still trying to recover from the setback. But the surprise is that the unemployment rate rose to 4.6%, the highest level in four years, indicating that people are returning to search for jobs, but companies are not hiring with the same strength. The growth came from sectors like healthcare, social assistance, and construction, meaning that jobs serving the community are the ones still standing strong. Analysts clarified that the significant decline in October was anomalous due to the government's halt in data collection, but now things have returned to normal calculations, as if the market is saying: "I exist, but I'm not at full strength."
This scene in the markets is like someone just back from a long vacation, wearing a new suit but with their eyes half open. Investors see that the job market is cooling, which leads them to expect that the Fed might slow down interest rate hikes, creating strong volatility in stocks, currencies, and even crypto. Rising unemployment with a slight increase in jobs creates a mixed picture: there's greater participation from people looking for work, but at the same time, there's weakness in hiring. For Bitcoin and alternatives, any signal of weakness in the job market affects global liquidity, meaning that 2026 could be a year of significant shocks, especially if liquidity starts to dry up after the peak. So the report is not just numbers; it's an early warning for all markets that "the laughter will decrease, and the seriousness will increase."
