Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 6th March 2016 and we are
covering the US Non-farm payroll report published last Friday and its implications.
Quoting the Report issued by the US Bureau of Labor Statistics:
“Total nonfarm payroll employment increased by 242,000 in February, and the unemployment
rate was unchanged at 4.9%. Employment gains occurred in health care and social assistance,
retail trade, food services and drinking places, and private educational services. Job losses
continued in mining. Over the year, the unemployment rate and the
number of unemployed persons were down by 0.6 percentage point and 831,000, respectively.
Among the major worker groups, the unemployment rates for adult men (4.5%), adult women (4.5
%) teenagers (15.6%), Whites (4.3%), Blacks (8.8 %), Asians (3.8 %), and Hispanics (5.4
%) showing little or no change in February. The number of long-term unemployed (those
jobless for 27 weeks or more) was essentially unchanged at 2.2 and has shown little movement
since June. In February, these individuals accounted for 27.7 % of the unemployed.
The employment-population ratio edged up to 59.8% over the month, and the labor force
participation rate edged up to 62%. Both measures have increased by 0.5 percentage point since
September. The number of persons employed part time for
economic reasons (also referred to as involuntary part-time workers) was unchanged in February
at 6 million and has shown little movement since November. These individuals, who would
have preferred full-time employment, were working part time because their hours had
been cut back or because they were unable to find a full-time job.
Employment in mining continued to decline in February (-19,000), with job losses in
support activities for mining (-16,000) and coal mining (-2,000). Since a recent peak
in September 2014, mining has shed 171,000 jobs, with more than three-fourths of the
loss in support activities for mining. Employment in other major industries, including manufacturing,
wholesale trade, transportation and warehousing, financial activities, professional and business
services, and government, showed little change over the month.
In February, average hourly earnings for all employees on private nonfarm payrolls declined
by 3 cents to $25.35, following an increase of 12 cents in January. Average hourly earnings
have risen by 2.2% over the year. In February, average hourly earnings of private-sector
production and nonsupervisory employees were unchanged at $21.32.
The change in total nonfarm payroll employment for December was revised from +262,000 to
+271,000, [a 9,000 increase] and the change for January was revised from +151,000 to +172,000
[a 21,000 increase]. With these revisions, employment gains in December and January combined
were 30,000 more than previously reported. Over the past 3months, job gains have averaged
228,000 per month.” Undoubtedly this is a positive report – in
excess of predictions by economists – and caps 72 months of uninterrupted job gains,
the longest streak on record. It comes as stock markets in the US and abroad have been
rattled by fears of a global slowdown, sparked by worries that China’s economic boom is
slowing. US businesses have now added 14.3m jobs over six years. The unemployment rate
is half what it was at the height of the recession and the December and January figures adjusted
upwards. The unemployment rate for the country overall was 4.5%. Those rates did not change
during the month, nor did the number of long-term jobless: still 2.2 million people.
On the downside Americans’ wages declined 0.1% from the prior month, putting the annual
gain at just 2.2% and while jobs growth was better than expected the major gains were
in low wage industries. The report comes as the Federal Reserve weighs
whether to delay a further rise in interest rates. “The recent rout on Wall Street,
due in part to economic woes in China, has been a major factor in the Fed’s decision
to hold off on a further increase”, Fed chair Janet Yellen told Congress last month.
Paul Ashworth, chief US economist at Capital Economics said: “With employment rising
at a rapid pace and labour market slack still shrinking, we think the Fed will resume raising
interest rates in June. A marked pick-up in wage growth is still notably absent, but that
won’t matter to the Fed when there are clear signs of a rise in core price inflation,”
Announcements by Central Banks concerning negative interest rates have also caused nervousness
and money flows into gold and silver (particularly the former). We certainly do not see interest
rates rising before June and would need to witness another month or two of increased
employment and improving Trade balances before we would even suggest that they will rise
then. We hope you have found this video interesting
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daily at www.facebook.com/illuminatisilver Disclaimer: Illuminati Silver owners come from a background
of Banking, International Wealth Management and Economics. Having now retired from these
worlds we are not qualified to give investment advice. Therefore, this and other productions
must not be deemed to be giving such advice and merely represent the personal views of