Jobless Claims continue to hover close to the 400,000 per week mark at 386k — never mind what the economists were expecting. Picture it…. nearly 400 people a WEEK filing NEW claims for unemployment benefits – a national tragedy that is on going and glossed over by the separate monthly employment report’s headline number that pretends unemployment is below 10% when in actuality (by the governments own data) true unemployment remains near 20%.
The Wall Street reaction? A mini rally after a day of mini decline… or ZIG ZAG trading as I like to call it. Please read more here: http://www.certifiedassets.