10/8/09

This morning we had our usual Thursday Jobless Claims, and later we have a 30-yr auction to get through. As a side note to keep in mind about unemployment, most figure that it will hit double digits soon. And for every person who shows up as unemployed in the report from the Bureau of Labor Statistics, there’s another person who does not appear because they are either too discouraged to look for work, or working part-time and earning less. This shadow will have ramifications on consumer spending! That being said, new claims for jobless insurance fell more than expected, hitting a nine-month low last week. After the 5:30AM news we find mortgage prices a shade worse.