Employment is up. ASARCO and Phelps Dodge are actually expanding nationwide. Both of these companies pay very well. You know the economy is doing well when the #1 and #2 producers of copper are actually hiring people.
That's good news. But those reports are few and far between. They also tend to be Geocentric.
That's good news. But those reports are few and far between. They also tend to be geocentric.
Uuuhhhnnnhhh..
I've tracked the price of copper for a few years, on and off. It's the "old geezers'" economic predictor.
It took off beginning about a year ago and IIRC has about doubled in the last 12 months--maybe more.
No real surprise to hear that copper mining/smelting/refining is hiring.
I just looked it up. From early 2002-date, copper's gone from around 65 to 130 (HGX, high-grade, futures.)
There was a brief retreat from 135 to 120 between April and June (approx) this year--now it's back to upswing.