BlockBeats News, July 2nd. The U.S. June non-farm payroll data showed that despite a decrease in the unemployment rate, recruitment activity in June experienced a significant slowdown, dampening the momentum of this year's employment growth. According to data released by the U.S. Bureau of Labor Statistics on Thursday, after revising down the data for the previous two months by 74,000, non-farm employment increased by 57,000 in June (market expectation was 110,000). The decrease in the unemployment rate was due to a sharp decline in the labor force participation rate—when the labor force participation rate decreases, it means that some people have exited the labor market (such as giving up job search, early retirement, returning to school, etc.). These people are no longer counted as "unemployed" and are no longer part of the "labor force," leading to a drop in the unemployment rate. After the data was released, spot gold prices saw a short-term increase, and the market also reduced its bets on a Fed rate hike. The market has fully priced in the expectation of a December Fed rate hike, compared to the previous expectation of an October hike.