Jobless claims continue to rise. Initial claims clocked in at 407,000, the highest level since 2003 when the economy was coming out of a recession. Continuing claims were 2.937 million, the weakest since 2004.
I read some bulls/cheerleaders today trying to spin it that it was technical due to effects of the Easter Friday holiday and that the economy may not be in a recession (yet). No matter.
What matters is the trend. And the trend is up.