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Tag Archives: Jobs

Peter Schiff: Gold Rally Indicates Sellers Are Exhausted

Despite the Fed announcing it will begin tapering QE and a better than expected jobs report, gold rallied on Friday. In his podcast, Peter Schiff said this is sign sellers are exhausted.According to the October non-farm payroll numbers, the US economy added 531,000 jobs, well above the projection of 450,000. The two prior months also saw significant upward revisions. The unemployment rate dropped to 4.6%. The one weak spot was labor rate participation, which remained at 61.6% instead of...

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Strong Jobs Creates Buying in Gold? Is All the Bad News Priced In?

October jobs came in at 531k, finally beating expectations with strength shown across the board. Furthermore, August and September were both revised upwards by over 100k. ‘Perhaps even more surprising is the early reaction in the gold/silver market. More on this below.This next chart compares the current month with the trailing 12-month average. A few key takeaways:Every category is above the 12-month average except for Government and Leisure/HospitalityMost categories are well above...

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A Messed Up Economy: Jobs Edition

Government policies – from shutdowns, to stimulus, to vaccine mandates – in response to the coronavirus pandemic have thrown the US economy completely out of whack. Looking at employment reveals just how messed up the economy has become.The number of Americans quitting their jobs surged to a record high in August. According to the Labor Department Job Openings and Labor Turnover Survey (JOLTS) report, job quits increased by 242,000 in August, pushing the total to a record 4.3 million. The...

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Peter Schiff: Stagflation Is Here!

We got the highly anticipated employment report on Friday. It came in far below expectations. But despite weak economic data, bond yields are rising, along with the price of just about everything. Meanwhile, a gold rally fizzled. Peter Schiff talked about it during his podcast, explaining just how badly the markets are misinterpreting the data. When you add up plunging bonds yields, strong oil, and weak economic data – that equals stagflation.According to the September Labor Department...

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Another Big Jobs Miss: All But Two Categories Are Below The 12-Month Trend

For the second month in a row, the jobs numbers in September came in well below expectations.The Labor Department reported an increase of only 194,000 jobs, well below the estimated 500,000. The big miss was similar to August’s report.Despite the unemployment rate ticking down to 4.8% from 5.2% and an upward August revision of 131,000 jobs, this is the weakest jobs report since January.This next chart compares the current month with the trailing 12-month average. A few key...

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Inflation Is a Thing! SchiffGold Friday Gold Wrap

Federal Reserve Chairman Jerome Powell spent most of his Jackson Hole speech continuing to try to convince everybody that inflation is transitory. As Friday Gold Wrap podcast host Mike Maharrey points out in this episode, whether it is or isn’t transitory, inflation is a real thing that has a real impact on real people. In this show, he also breaks the news on the August jobs numbers and discusses taper talk.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s...

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Going Off Script: Friday Gold Wrap Podcast Aug. 13, 2021

Gold and silver tanked after last Friday’s job report. But both metals have rallied a bit since the July CPI numbers came in right at expectations. In this episode of the Friday Gold Wrap, host Mike Maharrey looks a little deeper at jobs and CPI. Then he goes off-script and addresses some listener comments.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on...

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Government Jobs Account for Nearly a Quarter of July Gains

The BLS provides an employment picture of the US on the first Friday of every month. It estimates how many jobs were added or subtracted by sector. While some of the assumptions may be controversial (e.g. the birth/death model) and job numbers are prone to revisions, it remains the most widely anticipated statistic each month by the financial markets. Considering its popularity, the job numbers are heavily analyzed by many sources. This article uses visuals and historical data to provide...

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Peter Schiff: The Jobs Report Was Weaker Than Headlines Suggest

Despite the addition of a better than expected 850,000 jobs in June, the unemployment rate ticked up to 5.9%, The anticipation was that it would drop to 5.6%. The media spun this as a fantastic jobs report, focusing on the headline number of jobs “created.” Peter Schiff talked about it in his podcast and said it was a weaker report than the headlines would suggest. And the really bad news is unemployment and prices are rising together.In the first place, Peter pointed out that these...

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Economics Always Wins: SchiffGold Friday Gold Wrap Podcast June 11

We got another round of hotter than expected CPI data this week. The mainstream financial media is spinning this as good news. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into the CPI data without the rose-colored glasses. He also talks about an announcement by a major restaurant chain that may well be a canary in the coal mine. His conclusion – in the end, economics wins.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals...

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