Aug. 11 at 4:15 PM
$JNUG $GDX $GLD $B $SLV
There is a but that is the size of 1.3 million here. That 1.3 million is YoY of how many folks have left/stopped looking for jobs/stopped being counted in the unemployment rate which then brings down to a fantastic 4.1%. Participation fell from 62.2% to 61.4%
The U.S. economy saw an unexpected declined in jobs during July while the unemployment rate edged lower, the BLS reported Friday in a snapshot that showed a slowing employment picture
The unemployment slipped to 4.1% as the labor force participation rate fell further to 61.4%, its lowest in more than 5 yrs, another indication that fewer Americans were working or looking for jobs
The situation:
Unemployment rate is: Unemployed ÷ Labor force
Suppose you have:
6.9M unemployed/169M labor force = 4.1%
suppose 1M people leave the labor force & 500,000 of them were unemployed
You would have:
6.4M unemployed/168M labor force ~ 3.8%
Unemployment rate falls, even though only half a million people actually found jobs
