Treasury Secretary Scott Bessent is calling his shot on the June jobs report before the numbers are even official. He expects the data to come in “very strong,” though he admits he hasn’t actually seen the final figures yet.

The numbers backing the optimism

Over the two months leading into June, the US economy added 313,000 net new private-sector jobs.

Within that total, 13,000 were manufacturing jobs.

The May 2026 jobs report, the most recent official data available, showed 139,000 jobs added with the unemployment rate holding steady at 4.2%.

What Bessent says is driving growth

Bessent has attributed the job creation streak to a combination of tax policy and trade measures. He specifically pointed to the Working Families Tax Cuts as a key catalyst, arguing that putting more money in household pockets has created downstream demand that employers are responding to.

He’s also credited manufacturing rebounds and rising capital expenditures, connecting both to the broader tariff strategy pursued by the Trump administration.

What this means for markets and crypto

Bessent has a background in digital asset policy, having served as an advisor advocating for stablecoins as a tool to maintain the dollar’s competitive position globally. He also engaged with Galaxy Digital for advice on blockchain policy.

A stable employment picture at 4.2% unemployment gives the Federal Reserve less reason to cut rates aggressively, which historically has been a headwind for risk assets including Bitcoin and other digital assets.