Jobless Thursday on Friday

Well, initial claims for unemployment fell to 405,000, but it's still above 400,000, well above where we need to have it to see a meaningful job growth (generally about 375K is where you start seeing job growth).

The 4-week moving average, as well as emergency claims fell, though the regular continuing claims rose.

The problem here is three things:

1. Jobs
2. Jobs
3. Jobs

But unfortunately the people who are supposed to be fixing this are determined to spend their time making it worse by cutting the deficit in the near term.