It's Jobless Thursday

And it was not particularly good news.

Initial claims rose by by 8,000 to 362,000, 10,000 more than forecast, with the less volatile 4-week moving average rising by 250, continuing claims rising by 10K to 3.42 million, and extended claims rose 26.8K to 3.4 million.

Not great news, but still better than it was 6 months ago.

We should be getting the official NFP numbers tomorrow, but the ADP numbers were pretty good.

Of course, "pretty good" still means that we are looking at a decade before we return to trend.