Groundhog Day: May 2022 Jobs Report An April Redux, Which Was A March Redux, Gold & Silver Shrug, Again

Do over the do-over…

(by Half Dollar) The Employment Situation Report has just been released for the month of May, 2022.

According to the BLS, in the US, in May of 2022:

  • Total employment increased by 390,000
  • Unemployment rate was unchanged at 3.6%
  • Average hourly earnings rose by $0.10 per hour

This follows a supposed increase of 428,000 jobs in April, which could be a “rounding error”, or perhaps “adjusted” later for all we know, and note that the average hourly earnings and the unemployment rate were left unchanged from last month.

In other words, aside from a few thousand jobs here or a few thousand jobs there, this jobs report is basically another mulligan.

Gold & Silver shrugged the moment the “report” hit the tape, again:

My thinking over the last day or so has been that this would be a good moment to give the illusion of a “buy the rumor, sell the news” event in the gold & silver “market”.


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