Jobless Claimss down but still too high

Initial Jobless Claims (week ended 12/1/2012)

New Claims –  370,000.  Previous revised to 395,000
4-week Moving Average 408,000. Previous was 495,750.

I suppose that we are now past the Sandy spike. Nonetheless, this level is still to high. 370,000 unemployed per week is not what a recovery looks like. 

Challenger Job-Cut Report (November 2012)

– Announced Layoffs – 57,081. Previous was 47,724. 


The technical analysis of the 30 year Treasury bond future shows some bullish signs.  A weaker than expected BLS tomorrow could cause a healthy rally – higher prices, lower yields. Look at the 3rd graph here and you will see that the daily tech is poised to upcross to bullish.