Welcome to illuminati silver, we tell you
the truth about silver. Today is Friday 6th January 2017 and we are
commenting on the US Jobs figures announced today.
According to the US Nonfarm Payroll report, US businesses added 156,000 jobs in December
against a projected figure of 175,000 and well below the 204,000 which was upgraded
for November. The jobless rate also edged up last month to 4.7% from 4.6% and job growth
reached 2.2 million in 2016 compared with 2.7 million in 2015
The US Bureau of Labor Statistics said that the annual rate of wage growth accelerated
in December to 2.7%. This compares with a 2.5% increase in annual average hourly earnings
recorded in November and is the quickest pace of growth since June 2009.
Kully Samra, UK Managing Director at Charles Schwab, said:
“Despite December’s non-farm payroll numbers missing forecasts, the US economy still has
a robust labour market….The case for investment in the US remains very much intact. These
figures should still be viewed as a justification of the interest rate hike last month, and
we continue to expect the Fed to raise rates throughout the year.”
James Hughes, an analyst at GKFX, said: “Despite the miss in the headline grabbing
non-farm payroll number, the overall jobs report can be considered a strong one with
the all-important average earnings jumping from a negative reading last month.”
President-elect Trump, who takes office on 20th January, has pledged to create 25 million
jobs over 10 years, cut taxes both for individuals and for businesses, as well as invest in national
infrastructure and hopes to boost US economic growth to 4%. If his policies move in this
direction, and are at all successful, we will witness an improving economic situation, higher
interest rates, a higher value for the dollar and at least for the short term, downward
pressure on precious metal prices. It was interesting to see that once the jobs
announcement was made, instead of gold and silver prices rising because of the missed
jobs forecast, they actually fell a little, not by much but had this been a few months
ago, we would have seen gold and silver rise by 2 -3% on this employment news.
We shall comment further on our weekly update published this weekend.
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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 its owners.