Subscribe in a reader Precious metals finished the week on a strong note, as the latest reading on jobs kept the market guessing about the Federal Reserve’s quantitative easing programs.
The U.S. economy added fewer jobs than economists expected, and the unemployment rate ticked lower, largely as the result of job hunters dropping out of the labor force.
The share of working-age Americans who were employed or looking for work fell to 63.2% last month, its lowest level since 1978, a time when fewer women were participating in the labor force.
The Department of Labor reported Friday that the country’s employers expanded their payrolls by 169,000 jobs, below the consensus estimate of 175,000 new jobs, and unemployment dropped from 7.4% to 7.3%.
The dismal U.S. Non-Farm Payrolls report certainly dragged on the dollar, but the recent lull in job growth may do little to stop the Fed from tapering its asset-purchase program at the September 17-18 meeting as the central bank continues to highlight a more broad-based recovery
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