Every Thursday we get the weekly initial claims numbers. Today we had the lowest initial claims in 7 months, is that a good thing? The market seems to like it.
If you sift through the numbers you will realize that while yes less people were laid off this week, don’t forget not many companies will layoff people just before a holiday.
Also the continuing unemployment numbers spiked to a new all time high.
So before you go out and start buying stocks thinking the market is about to recover, think about this, If unemployment is at an all time high, and climbing how is that a recovery?
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