U.S. December Non-Farm Payrolls Released, Market's "Blood Pressure to Surge" Again. 500,000 new jobs added, below the expected 600,000, and the unemployment rate at 4.4% instead of the anticipated 4.5%—what signals do these contrasting data points reveal?

Job growth is slowing, but the unemployment rate hasn't worsened, indicating that the U.S. labor market is still exploring a new balance. More interesting is the hourly wage growth: a month-on-month increase of 0.3% aligns with expectations, but the year-on-year increase of 3.8% exceeds the expected 3.6%. What does this wage growth imply? Inflationary pressures have not fully dissipated.

What impact does this have on the Federal Reserve's policy direction? Weak employment data might boost expectations for rate cuts, but above-expected wage growth could constrain hawkish moves. For the crypto market, such macroeconomic data often serve as a "barometer"—changes in dollar policy expectations will directly influence capital flows.