Gold & Silver Ramped Higher As Report Shows 210,000 Jobs Created While Unemployment Plunges More In November

This report does nothing to change the reborn, so-called “hawkish” Fed, which is ready to accelerate the “taper” and begin…

(by Half Dollar) The Employment Situation Report, commonly called the Jobs Report, has just been released for the month of November, 2021.

According to the BLS, in November:

  • Total employment rose by 210,000
  • Unemployment rate fell by 0.4% to 4.2%
  • Labor force participation rose to 61.8%
  • Average hourly earnings rose by $0.08 to $31.03 per hour

From the first paragraph of the report (bold added for emphasis and commentary):

Total nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Employment in retail trade declined over
the month.

Month after month after month after month, there are seemingly always “notable gains” in transportation, warehousing and manufacturing, and yet, the supply chain disruptions continue to worsen.

Seems legit.

Gold & Silver were ramped higher when the report hit the tape:

As far as the mainstream narrative goes, this is a “weak” headline print of just 210,000 jobs created, however, in my opinion, on its own, this “huge miss” in the November Jobs Report is not enough overcome the rise in worker wages, the rise in the labor force participation rate, and the drop in unemployment.

And since everybody and their brother are regurgitating “data” supposedly providing evidence that everything is now back to how it was before the whole dang Zombie Apocalypse even began, a gain of 210,000 jobs is not totally doubleplusungood in that sense.

Said differently, as far as the narrative goes, this report does nothing to change the reborn, so-called “hawkish” Fed, which is ready to accelerate the “taper” and begin “hiking” interest rates.

And everybody knows ‘Ol Half Dollar’s call.

Of course, there is only one single person on the entire planet who has been consistently right about silver since late January.