Crypto Journalist
Anas Hassan
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The Bureau of Labor Statistics releases both September and October JOLTS job openings data at 10:00 AM ET today, the final major employment report before the Federal Reserve’s rate decision tomorrow.
Bitcoin is trading around $92,000 as markets brace for the delayed data; both reports were postponed due to the government shutdown and are dropping simultaneously just hours before the Fed enters its December 9-10 FOMC meeting.
The last JOLTS report covered August and showed job openings holding steady, but traders are watching closely for any signs of a cooling labor market that could justify the Fed’s anticipated 25 basis-point rate cut.
Current market odds sit at 89% for a December cut, but today’s double data dump could shift those probabilities if openings show unexpected weakness or strength.
Job openings are a critical leading indicator for the Fed because they signal labor demand before it shows up in hiring or unemployment data.
After last Thursday’s shockingly strong jobless claims print (191K vs 219K expected—lowest since 2022), Fed Chair Powell faces conflicting signals. Robust initial claims suggest no labor market distress, but if JOLTS openings have declined sharply over September and October, it would support the case for preemptive easing.
The Fed has already ended quantitative tightening as of December 1, and September PCE data showed core inflation improving to 2.8% from 2.9%, creating a dovish backdrop despite recent employment strength.
Markets are essentially getting two months of data in one release, which could produce volatility if the trend shows clear acceleration or deceleration.
Bitcoin needs to hold support at $90,000-$92,000 heading into tomorrow’s 2:00 PM ET Fed decision and Powell’s 2:30 PM press conference. Resistance remains at $90,000, and the descending trendline that’s capped rallies since mid-November.
If JOLTS data shows job openings collapsing, it strengthens the rate cut case and could provide the catalyst Bitcoin needs to break above $98K.
Conversely, if openings remain elevated, it reinforces the “no landing” scenario where the economy stays strong, and the Fed pauses easing, potentially sending Bitcoin back toward the $88,000-$90,000 support zone that marked November’s low.
Double JOLTS Report: Final Employment Signal Before Fed Decision
