US weekly jobless claims dropped to 209,000 for the week ending May 16, below the 210,000 estimate. Here's what it means for the Fed and crypto markets.

US weekly jobless claims dropped to 209,000 for the week ending May 16, below the 210,000 estimate. Here's what it means for the Fed and crypto markets.

The 4-week moving average dropped to 202,500, its lowest point since 2024, as the labor market holds in a "low-hire, low-fire" state