Well just as I thought a better than expected (bogus) jobs number is out. The S&P futures are rallying (after a 12 point decline yesterday) as is the dollar but not as much as expected. They claim employers added more than 200,000 jobs in April for the third straight month, the biggest hiring number in five years. But curiously the unemployment rate rose to 9 percent in part because some people resumed looking for work (seriously! thats what they said) you see if you don't look for work you are not counted as unemployed (Thats how they roll).
The Labor Department says the economy added 244,000 jobs last month. Private employers shrugged off high gas prices and created 268,000 jobs -- the most since February 2006.
The gains were seen in Retailers, factories, financial companies, education and health care and even construction companies all added jobs. Federal, state and local governments cut jobs.
Silver actually was down over 1.30 when the news came out it rallied, don't know what to make of that. Maybe its opposite day! Those with kids know what I'm talking about.
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