Friday’s (Jan. 6) stock market improvements were nice turnabouts. So, now what? More of the same? Could be, but not because of that December employment report. We’ve seen that report lose its punch in the following days. It is other observations that could continue the happy environment – for a while, at least.
Unemployment, not employment, is the key indicator, and it is favorable
Last Friday’s employment numbers and analysis are fine, but it’s the ongoing low unemployment numbers that are especially important. The continuing low weekly unemployment claims (next report on Thursday) and last Friday’s low monthly unemployment numbers provide the best proof that there is no economy downturn or recession ahead.
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