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Aug 21, 2019 10:42 a.m. ET
WASHINGTON (MarketWatch) — The U.S. economy had 501,000 fewer jobs in March 2019 than previously reported, government revisions show, suggesting that hiring was not as strong in the past year as it seemed. Hiring was weaker in retail, restaurants and hotels. The annual revision is much larger than is typically the case. The preliminary revision in 2018, for example, was just 43,000. Every year the Bureau of Labor Statistics updates its figures based on unemployment data that nearly all employers are required to file with the states. The current revision is one of the largest ever.
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Gold has made quite the advance over the past three months. Basically that advance has been made without any help from a weakening dollar or a lasting Fear Trade, which kicks in every now and then. This makes the move in gold that much more impressive. Should both of those factors go into high gear, the momentum shift into gold and silver by even more new buyers ought to be awesome. As is, continuing lower interest rates and the need for further monetary stimulus around the world is propelling the gold price.
A few items from Murph tonight–this jobs revision# is a very big deal but will have no effect cause it won’t be mentioned on Tee Vee
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