Gold & Silver Dumped One Minute Prior To A Jobs Report That Crushed All Expectations (273,000 Jobs)!

If you thought job creation in January was good, February just blew that number out of the water!

Editor’s Note: The report is taken at face value.


(Silver Doctors Editors) The BLS Jobs Report, formally known as the Employment Situation Report, was just released for February, 2020.

Here’s what some consensus estimates were showing prior to the release, from Econoday:

After such a super-duper awesome January jobs report, the consensus ranges are increasingly bullish.

For example, here was the consensus going into January’s report:

In other words, not only are “market participants” bullish about the US economy, but after January’s report, they’re even more bullish!

However, this is likely one of the last positive jobs reports in a while if this coronavirus is the real deal.

The actual report was just released at 08:30 a.m. EST, and here’s how the numbers came in:

  • Total employment rose by 273,000 in February
  • The unemployment rate was little changed at 3.5%
  • Average hourly earnings (year over year) rose by 3.0%
  • Labor force participation remained at 63.4%

More from the BLS:

Total nonfarm payroll employment rose by 273,000 in February, and the unemployment
rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics
reported today. Notable job gains occurred in health care and social assistance,
food services and drinking places, government, construction, professional and
technical services, and financial activities.

A summary, from Bloomberg:

U.S. employment surged last month with the biggest gain since May 2018, indicating the labor market was on especially solid footing before the spread of the coronavirus intensified.

Payrolls rose 273,000 after the prior month was revised up to also reflect a 273,000 gain, according to Labor Department data Friday that beat all forecasts in Bloomberg’s survey calling for 175,000. The jobless rate fell back to a half-century low of 3.5% as average hourly earnings climbed a steady 3% from a year earlier.

Here’s the obligatory “selling” of gold and silver:

Notice how gold was heavily sold, this time, beginning one minute before the report “hit the tape”.

Finally, recall there was a big fuss made in the mainstream and “alternative” media about upcoming changes to the lock-up period the Trump Administration was beginning, this very month, but note that politicians either got cold feet, or were simply throwing a bone to supporters, hoping they wouldn’t notice the changes are not actually going into effect (bold added for emphasis)

Dear Bureau Chiefs,

In my letter dated February 25, 2020, I announced that changes to the Department of Labor (DOL) press lock-up would be implemented no sooner than March 9, 2020. Over the past week, BLS and the DOL have engaged in highly informative and useful conversations with stakeholders. We continue to be committed to the secure, equitable, orderly, and timely dissemination of statistical data, as well as to addressing the Office of Inspector General’s findings and recommendations.

We have decided that the DOL, the press, and the public at large will be best served by delaying any changes to the lock-up policy beyond March 9, 2020. During this time, we will continue to hear from stakeholders while the DOL continues to work on the changes to the lock-up that enable us to best meet our goals of providing the public with equitable and timely access to data while ensuring the highest levels of security. Therefore, I am letting you know that we will not implement our new lock-up policy on March 9. We will give you, and the public at large, at least 14 calendar days’ notice before we implement any lock-up policy changes.




In other words, the system is so fragile that a simple change cannot be tolerated, or they’e just too much unbacked, debt-based fiat to be made off of the HFT algos that the politicians actually just couldn’t resist the temptation.