This morning we have the somewhat unprecedented situation where both the monthly non-farm payrolls data and weekly jobless claims data coincide.
Even more ‘unprecedented‘ is the fact that the two measures of the labor market are expected to diverge dramatically with a 1.35 million increase in new jobless claimants occurring at the same time as the BLS is expected to report an increase of 3.058 million jobs in the US economy.
Of course, this all sits against the backdrop of an unprecedented surge in the stock market as the economy remains mired deep in collapse…
