Jobs Report Delay Could Be Shocking For Crypto

A sticker depicting Federal Reserve Chairman Jerome Powell holding a sign that reads "Buy Bitcoin" on a wall,
during the Bitcoin 2023 conference in Miami Beach, Florida, US, on Friday, May 19, 2023.
(Image Source: TheStreet.com)

The September jobs report has been delayed due to the government shutdown in the U.S. which has huge implications for the crypto industry.

After the Republican Party and the Democratic Party failed to reach an agreement, the U.S. government went into a shutdown on Oct. 1. It means that non-essential federal agencies stop operating because the lawmakers haven't approved the budget.

The development also affects the Bureau of Labor Statistics (BLS) which suggests that the release of the September jobs report, earlier expected on Oct. 10, has been indefinitely delayed.

Notably, the next Federal Open Market Committee (FOMC) meeting will take place during Oct. 28-29 when the Federal Reserve will announce its decision on interest rates, and the lack of updated data on wages and employment will make the task very difficult for the central bank.

Whether the Fed takes a hawkish or dovish outlook on rates would have a definitive impact on the crypto market. If the Fed cuts rates during the next meeting, it is expected that the crypto market will witness an inflow of significant capital. If it doesn't cut rates, the market is expected to slow down — for a while, at least.

Shutdown could renew interest in crypto

Analysts at Bitfinex predicted that crypto may draw renewed attention during the shutdown as investors question Washington’s stability.

Chris Kline, COO and co-founder at BitcoinIRA, the crypto-focused retirement platform, said,

"I expect to see alternative assets like gold, silver, and bitcoin thrive in this contentious environment, especially against the USD run by a government that continues to shut down over budget disagreements."

The prediction came true only within days of the shutdown as Bitcoin hit a new all-time high (ATH) of $125,802.54 on Oct. 6, cementing its status as the safe haven asset during such periods of crises.

Updated: Oct 7, 2025 8:49 AM EDT

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