In my last post I said, "and the labor picture is sure to worsen". Here is a headline from a few hours later: U.S. stock futures point lower for second day, Labor Dept. reports large jump in weekly jobless claims, from 69,000 to 375,000
That is a huge increase - I guess all the retail holiday help got their pink slips!
"Already lower, futures for the Dow Jones Industrial Average more than doubled their losses after the government reported the largest gain in claims for first-time unemployment benefits since September 2005.