The Employment Situation -- January 2024 | Crypto Craft

  • The Employment Situation -- January 2024

    From bls.gov

    Total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate remained at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas extraction industry. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more ... (full story)

Added at 7:35am

  • Economy started 2024 strong with 353,000 jobs in January

    From washingtonexaminer.com

    The economy again beat expectations in January and added 353,000 jobs, the Bureau of Labor Statistics reported Friday morning, showing that the labor market started 2024 on strong footing after defying fears of a recession throughout 2023. The unemployment rate stayed the same at 3.7%. Notably, the unemployment rate remains low by historical standards. The continued employment growth is good news for the White House, which has been working to credit President Joe Biden for the strong job creation over recent months, characterizing the underlying strength of the labor market and broader economy as “Bidenomics” in ... (full story)

Comment Options
Bakker
Feb 2, 2024 7:45am
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Election year; everything will be applied to keep Trump out of office.
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Bones
Feb 2, 2024 7:56am
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hot hot hot
Bidens overspending by trillions
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ww3361
Feb 2, 2024 7:39am
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I wise man once said:

Inflation is out of control

I think his name was Phillip Curve
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Battman
Feb 2, 2024 8:17am
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If you read the report about 110k Jobs were in Government and Healthcare, both of which are controlled by the Gov, makes you wonder how legit these numbers are, a bad start to the year would surely snowball into Trump getting re elected and they know that, i smell something fishy, you dont go from the edge of reccesion to these numbers within half a year.
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Banditten
Feb 2, 2024 8:32am
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Before you jump in too deep. January numbers are always off due to seasonality. Look at the numbers in previous January months and compare to forecasts. I only gone back a few years but the pattern is clear. Good weekend.
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chiche
Feb 2, 2024 8:01am
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353k jobs, where? Strong economy? 353k macdonalls job where you can not feed you family with 40hs a week, price of goods rise, gob is printing money left and right, inflation, students loans, credit cards, car market sinking, mortgage, etc, and on the top of that usa attacking other country, please, strong economy?
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yudis07
Feb 2, 2024 7:51am
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no talking about rate cuts anymore..higher for longer or raise the rate.
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asmadi78
Feb 2, 2024 8:13am
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This is scam data
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fxx360
Feb 2, 2024 8:38am
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lol the illegal Mexicans are starting to work and they are counted too
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jordanvic
Feb 2, 2024 8:04am
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numbers so very unbelievable that it has to be real.
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umbrella man
Feb 2, 2024 8:23am
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Cannot be happier. I see lots of sad familiar faces here. Lol. Typical retailers
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chiche
Feb 2, 2024 8:15am
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Quoting asmadi78
This is scam data
Is a tactic to get liquidity.
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hotaggie98
Feb 2, 2024 8:06am
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Biden and Obummer are masterminds at cooking the numbers, they don't call themselves commander in chef or nothing
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edeslu
Feb 2, 2024 8:38am
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Quoting jordanvic
numbers so very unbelievable that it has to be real.
there it is bro, just like you said it. those ADP were low earlier in the week and now this ADP gottt damn astronomical numbers...WTF. Who is coming up with these effing 'estimates' wooow just str8 dumba$$es
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ar007
Feb 2, 2024 8:55am
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Retailer, not retailer - 100 pip move must be absolutely not a problem for everyone who is trading with care, doesn't matter if you are on the expected side or otherwise.
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ar007
Feb 2, 2024 9:30am
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No disappointment, BTC looks like recovering a loss just after US data came, I guess who was looking for 100-200 pip move already enjoyed to their profit. Question is how it will develop further.
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MatTrader101
Feb 2, 2024 7:36am
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Quoting kidd0
{quote} Please sell USD
I am definitely not trading today, SL hunts will be absolutely screaming today.

2 hours, and we get inflation if that's high, we gonna have market capitulation.
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MatTrader101
Feb 2, 2024 8:21am
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Quoting Battman
If you read the report about 110k Jobs were in Government and Healthcare, both of which are controlled by the Gov, makes you wonder how legit these numbers are, a bad start to the year would surely snowball into Trump getting re elected and they know that, i smell something fishy, you dont go from the edge of reccesion to these numbers within half a year.
I'll be honest markets will not care for today... unless there will be a massive wake up of buyers.

if Inflation expectations are higher today in 1 hour, then I expect capitulation and $ to sky rocket, otherwise it's going to be choppy for the rest of the day until we get new information etc.
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ar007
Feb 2, 2024 8:36am
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Basically that are good news for those who are waiting for weaker USD, it's an opportunity to jump in for BTC, gold, etc. Because in a longer term there is no way to keep rates for very long anyway, ok let's say no cut in March maybe, but still the next step will be not further tightening, but cut.
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Bakker
Feb 2, 2024 7:34am
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Unemployment claims are increasing and now this? Doesn't make sense.
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Bakker
Feb 2, 2024 7:42am
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It seems the criteria for determining employment numbers has changed dramatically.
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Bakker
Feb 2, 2024 7:58am
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For the gold diggers among you:
Attached Image (click to enlarge)
Click to Enlarge Name: GoldNFP.jpg Size: 51 KB
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Bakker
Feb 2, 2024 8:28am
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Quoting Ftmofx
Gold bearish price action towards 1980
I don't think so, wars will keep gold buoyed.
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Bakker
Feb 2, 2024 9:15am
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I guess it's best to call it a day, with pending attacks on Iranian proxies complicating things further, a nice cold beer will be the right remedy for a disappointing day.
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kidd0
Feb 2, 2024 7:34am
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Quoting MatTrader101
Those numbers are actually unreal...
Please sell USD
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JackintheBox
Feb 2, 2024 7:53am
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So crazy, all nabs talk about rate cut. Numbers stalled a bit and than comes today... bye bye rate cut in 2024.
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MatTrader101
Feb 2, 2024 7:33am
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Those numbers are actually unreal...
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asmadi78
Feb 2, 2024 7:39am
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buy gold forever in time!
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umbrella man
Feb 2, 2024 8:42am
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Quoting chiche
{quote} You are a retailer too.
Maybe, maybe not. But I’m not a losing one for sure
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chiche
Feb 2, 2024 7:38am
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No real at all.
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chiche
Feb 2, 2024 7:47am
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You right
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chiche
Feb 2, 2024 7:52am
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Quoting Trivion
Such a strong economy
Please.
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chiche
Feb 2, 2024 8:39am
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Quoting umbrella man
Cannot be happier. I see lots of sad familiar faces here. Lol. Typical retailers
You are a retailer too.
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Trivion
Feb 2, 2024 7:50am
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Such a strong economy
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BaliBoyz80
Feb 2, 2024 7:43am
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Really good data. Offcial data release and some o f people said it was fake data ? omg
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ucmenow
Feb 2, 2024 7:31am
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wow those numbers scream
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Ftmofx
Feb 2, 2024 7:43am
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Wow number. Powel was told in FOMC Meeting strong Job growth. Average Hourly Earnings m/m
0.6%0.3%0.4%
USD
Non-Farm Employment Change
353K187K333K
USD
Unemployment Rate 3.7%3.8%3.7%
Big buy USD and Big sell gold. Today Gold will go in bearish zone
DovishHawk
Feb 2, 2024 3:09pm
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Quoting umbrella man
Cannot be happier. I see lots of sad familiar faces here. Lol. Typical retailers
Hear! hear! An institutional trader in a ForexFactory thread? What are you doing here? Just go and count your millions!
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cryptogurupr
Feb 2, 2024 8:06am
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Strong Numbers NGL
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yudis07
Feb 2, 2024 7:57am
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keep buy USD
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Robert1991
Feb 2, 2024 7:36am
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Lol and the last numbers were revised up.
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Cekplong
Feb 2, 2024 7:39am
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Buy or bye bye
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Battman
Feb 2, 2024 7:45am
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So massive tech layoffs and these numbers.... i am not an expert but how easily are these numbers faked or buffed?
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Trader#A85D
Feb 2, 2024 7:49am
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Shouldn't be a surprise that people don't trust the numbers. An article today states : "That is according to a new report published by Challenger, Gray & Christmas, which found that companies planned 82,307 job cuts in January, a substantial 136% increase from the previous month. It marked the second-highest layoff total for the month of January in data going back to 2009."
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Ftmofx
Feb 2, 2024 8:09am
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Historical record Job growth, hourly rate increase and unemployment decrease
Trader#760C
Feb 2, 2024 7:32am
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wow...
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Trader#B0C6
Feb 2, 2024 7:40am
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There really needs to be some kind of reconciling between ADP payrolls, unemployment claims, and now this. It’s such an outlier that it’s gotta raise some questions.
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Ftmofx
Feb 2, 2024 8:23am
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Gold bearish price action towards 1980
Trader#B7AE
Feb 2, 2024 8:45am
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So many retailers coping here
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