It’s Jobless Thursday

And not only were the numbers worse than expected, but they are the worst numbers since June, with claims closing by 11,000 to 428,000, with the 4 week moving average rose by 4,000 to 419,500, though continuing and total claims both fell slightly.

We are not in a recovery, as the latest Philadelphia Fed’s Survey of manufacturing showed, with the numbers indicating contraction.

Why people aren’t running around like their hair on fire over this, I do not understand.

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