The official U.S. unemployment rate rose during the month of May to 9.1%, up from 9% in April, with only 54,000 non-farm jobs being created for the month. The real unemployment rate including short and long-term discouraged workers is now 22.3%.
The Bureau of Labor Statistics (BLS) used the birth/death model to produce a positive monthly bias during the month of May of 206,000 jobs, up from 175,000 in April, 117,000 in March, and 112,000 in February.
Without the birth/death model, 152,000 jobs were lost during the month of May.
The U.S. is about to be cut off from its two largest foreign lenders China and Japan, which means the Federal Reserve will need to fund all of the U.S. government's deficit spending through outright money printing.
http://inflation.us/economicupdate.html
US Federal Reserve - Monetary policy (printing dollars) = Fundamental reason for higher gold prices going forward.
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