#BITCOIN PRICE UPDATE !!!!!
PART 1 :
Today, on May 3rd, 2024, we received a series of economic reports from the United States that provide insights into the current state of its labor market and some key corporate developments. Let's break down these numbers and explain each one using familiar Pakistani examples:
1. Non-Farm Payrolls (175K vs. expectations of 238K; last month was 315K):
- *Technical:* This measures the number of jobs added in the U.S. excluding farm-related industries.
- *Simple Example:* Imagine a big bazaar where new shops open every month. Expectations were for 238 new shops, but only 175 opened, fewer than last month's impressive 315.
2. Unemployment Report (3.9% vs. expectations of 3.8%; last month was 3.8%):
- *Technical:* This percentage represents the portion of the workforce that is jobless and actively seeking employment.
- *Simple Example:* In a village of 100 people, 4 are looking for work but can't find any, slightly more than last month.
3. U-6 Unemployment Rate (7.4%; last month was 7.3%):
- *Technical:* This includes the total unemployed, plus all persons marginally attached to the labor force and part-time workers who want full-time work.
- *Simple Example:* In a bigger town, about 7 out of 100 people either don’t have enough work or are searching for jobs but are not counted as unemployed because they did some work.
4. Participation Rate (62.70%; last month was 62.70%):
- *Technical:* This measures the percentage of the working-age population that is either employed or actively looking for work.
- *Simple Example:* Out of every 100 adults capable of working, about 63 are either working or trying to find work, unchanged from last month.
5. Private Non-Farm Payrolls (167K vs. expectations of 181K; last month was 243K):
- *Technical:* This number represents the job growth in the private sector, excluding agricultural sectors.
- *Simple Example:* Consider private companies in a city opening new jobs. Fewer jobs were created this month compared to expectations and the previous month.