Closer look at unemployment figures a reason to consider investing in gold coins
Friday, February 15, 2010
Unemployment remains a wild card in the current economic climate.
- By John March
Some economists took heart from the latest government unemployment report, which dropped from 10 percent to 9.7 percent. However, it remains to be seen if this will be a temporary bump in the recovery or whether the economy is continuing to face more trouble.
The Bureau of Labor Statistics recently noted that in December, there were 2.49 million job openings nationwide, down from 3.22 million openings for that month in 2008. This suggests that even as the recession was still in full swing, many unemployed Americans actually stood a better chance of finding a job.
The number of hires was also down on a year-over-year basis, from 4.5 million in December 2008 to 4.07 million a year later. For all of 2009, the net employment loss was said to be 4.2 million.
Elsewhere, an Associated Press report noted that there are now 6.1 unemployed workers for every available position.
One concern for the economy is that high unemployment rates will stall a recovery by sustaining high credit default and mortgage foreclosure rates.
With the economy far from settled, investing in gold coins remains a reliable way to ride out the potential for a double dip recession.
John March is the Chief Technical Officer for the Superior Gold Group, his financial insights on precious metals are sought after by Gold & Silver Dealers globally.
If you have any questions about how to buy gold coins, and want to learn how to grow your portfolio call 888.374.4032 or write to askjohn@gold101.com.