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US Non Farm Payroll Report for March 2016 shows more jobs created


US Non Farm Payroll Report for March 2016 shows more jobs created.

Today is Friday 1st April 2016 and we are briefly addressing the just released US Non-Farm Payrolls Report.

The US Non Farm payrolls announced only a few minutes ago show that 215,000 jobs were added in March as opposed to the anticipated 205,000. However the headline unemployment rate rose from 4.9% to 5%, the first month to month increase since May 2015.

On the positive side, average hourly earnings climbed 7% providing an annualised gain of 2.3% and the labour force participation rate also rose to 63% marking the highest level since March 2014.
On the downside, manufacturing lost 29,000 jobs and mining 12,000.

This report comes on the heels of recent data showing sluggish consumer spending and weak business investment on capital in the first two months of the year, as well as some deterioration in the international trade balance.

The FED will certainly look at these figures carefully, and as in our last report, we suspect this will prevent Janet Yellen from raising rates in April, though these figures can be interpreted as both positive and negative.

Interestingly both gold and silver have fallen in the past 24 hours with gold down some 1.5% at $1220 an oz and silver down 3% at $15.02 – but it’s too early as yet to tell where these levels will settle and we shall address this in greater depth in tomorrow’s weekly update.

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